Nike sold an NFT sneaker for $134,000

So what do Nike Cryptokicks buyers actually own? It’s not entirely clear.

The deployment was shrouded in mystery. In February, RTFKT released 20,000 NFTs from a mysterious box called MNLTH, pronounced “monolith” (vowels, apparently, are for noobs in the NFT world). The only clue to what was inside was the Nike Swoosh and RTFKT lightning bolt logo.

Some 8,100 people who had an NFT since one of RTFKT’s previous collections received an MNLTH at no additional cost, said Joe Chui, 39, an NFT analyst in San Francisco who runs YouTube channel RealTalkFIRE, and who received two. Anyone could buy one on OpenSea, starting at around 5 Ether (about $15,000 at the time), although no one knew what was inside. (Nike did not respond to multiple requests for comment.)

That didn’t stop Bryson Honjo, 31, who lives in Honolulu and runs UntiedHawaii, a YouTube sneaker channel, from paying 5 Ether each for two MNLTH boxes. “You have to believe this is going to be another groundbreaking sneaker, similar to the Air Jordan 1 from 1985,” Honjo said.

On April 22, after months of speculation, Nike announced on Twitter, Discord and other social media platforms that owners could connect their crypto wallets, where they stored NFTs, to the RTFKT site to “open” their boxes, Mr. Chui said.

Inside, the owners found a digital image of a generic basketball shoe called the Nike Dunk Genesis Cryptokick, as well as a virtual “skin vial” – a glowing cartridge that, when inserted into a port on the tongue of the virtual sneaker, gives the sneaker its final appearance. .

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