Nike's RTFKT Introduces Forging Event for Dunk Genesis
Nike-owned RTFKT announces a "forging event" for Dunk Genesis sneakers, allowing select NFT holders to buy physical shoes adding a twist to the NFT market.
Nike-owned company RTFKT has unveiled plans for a unique "forging event" involving its Dunk Genesis sneakers, scheduled between October 18th and 30th. During this period, select NFT holders can purchase up to five Dunk Genesis sneakers in three colorways.
From NFTs to Physical Goods
The Dunk Genesis sneakers come in three versions: "OG," "Void," and "Clone X." Owners of these NFTs will have the option to redeem them for physical sneakers. Interestingly, even after this redemption, the NFTs will stay in the owner's digital wallet, adding an additional layer of value. Manufacturing will be on demand, with shipping expected to begin in June 2024. RTFKT had teased a prototype earlier this year, but specific designs remain undisclosed.
Source RTFKTA New Pathway for Enthusiasts
Though the window to mint new Dunk Genesis NFTs has closed, enthusiasts can still purchase these tokens through the OpenSea marketplace. The current minimum price stands at 0.0825 ETH, or about $108 Another option involves the pricier RTFKT MNLTH, which offers a chance to obtain a Dunk Genesis NFT, with the lowest listing at 0.3 ETH, approximately $494.
Each RTFKT x Nike Dunk Genesis pair is priced at the Ethereum equivalent of $222, with additional gas fees. Once the forging event concludes, there will be no more chances to acquire these unique sneakers, positioning them as genuine collector's items.
What is RTFKT?
RTFKT, pronounced "artefact," is a pioneering company co-founded by Chris Le, Steven Vasilev, and Benoit Pagotto, specialists in gaming, design, and technology. RTFKT was conceived with the aim of melding physical and digital fashion realms. Rather than focusing solely on tangible products, RTFKT produces digital fashion items designed for use in video games and virtual spaces.
These digital sneakers and virtual wearables allow individuals to express their style within the metaverse. Nike acquired the company in December 2021, intending to leverage its technical expertise to deliver immersive metaversal experiences, marking a pivotal moment in RTFKT's trajectory.
The forging event by RTFKT serves as an intriguing case study of how digital assets and physical goods can intersect in the contemporary market. With the evolving NFT space, such initiatives provide a glimpse into future commerce trends that straddle the digital and physical.
