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Nike launches its first Web3 physical shoe

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Nike is launching its first NFT collection that will be redeemable for a physical version of the same product. The collection has been named “Cryptokicks iRL” and will contain a total of 19,000 tokens.

Nike is reportedly very close to launch its first NFT collection that can be redeemed for a real product.. This type of asset class offers the holder the opportunity to sign a digital contract to burn a “….”Key“and ask the brand to send you an actual model of the NFT in question.

Nike will launch this collection through one of its subsidiaries. RTFKT. The collection would consist of a total of 19,000 NFT and for the time being would be known as the “Cryptokicks iRL“. In this type of collection that allows the asset to be exchanged for a real piece, the NFT will generally remain in place so that it can be used in the metaverse or traded, but the part that allows the token to be exchanged for its real model can only be used once. It is not known whether Nike will proceed in this way or simply render the token useless once redeemed.

The American brand has decided to launch this first Web3 collection of physical products with sneakers. Each token will represent a pair of trainers.Who will have their own own rarity and thus, will have a value based on this rarity. The shoe appears to be a model created exclusively for the NFT collection, as it does not resemble a previously released silhouette from Nike.

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There are a total of 4 models of Cryptokicks iRLWhich are divided into: Space matter, rock, ice, and lava/oxidian.. Each model is equipped with a system that tightens the cables automatically, lighting, connection to external applications, wireless charging and many other technological additions. This may be the most technological shoe Nike has ever worked on, which is why the price, depending on the model, is estimated at between $450 and $1,500.

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The registration for the token drawing can take place between December 7 and 9.. The private sale will take place on December 12while the public sale will be opened on Dec. 14. It should be noted that Nike will only ship the physical shoes to the United States.

Continue reading as OpenSea begins offering trading for animated NFTscould be interesting.

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