The world’s largest athletic apparel company, Nike, has begun auctioning off its first NFT sneaker collection, “CryptoKicks”, with bids worth over $100k. The auction is taking place on the online marketplace OpenSea.
Customers are paying between $4,000 and $9,500 in cryptocurrency for the NFT sneakers. Interestingly, some pairs have sold for a mighty six figures. CryptoKicks are customizable, meaning, customers can purchase a “skin vial” to change the color of the shoes’ signature Swoosh, straps, tongue, and heel.
The RTFKT x Nike Dunk Genesis HMN CryptoKicks currently have a bid of over $124,000, and they’ll most likely sell for a little more when the auction closes on May 22.
According to OpenSea, nearly 9,000 of the Nike Dunk Genesis NFTs have been sold. These new Dunk Genesis ‘CryptoKicks’, are launched in collaboration with RTFKT, a virtual shoe company.
Nike and RTFKT were in talks since December last year. Consequently, Nike acquired RTFKT to create next-generation collectibles for the metaverse.
Nike didn’t comment on the ongoing CryptoKicks sales amount. However, Nike and RTFKT are expecting that the NFT sneakers will contribute to what is expected to be a surge in metaverse-related sales in the years ahead.
Nike’s competitor Adidas also has been dabbling in the NFT space with its debut ‘Into the Metaverse’ NFT collection that collected over $43 million in its first week on OpenSea.