Nike and RTFKT Reveal Their First Virtual Sneakers

In February, the virtual fashion start-up, which Nike acquired last year, had released a non-fungible token it called the MNLTH, a metallic cube bearing both the RTFKT and Nike logos. Since then, owners of the MNLTH NFTs have been completing “quests” RTFKT posted on Twitter and in its Discord channel in order to discover what was inside.

The answer, revealed today, was a pair of virtual Nike Dunk sneakers whose look owners appear to be able to change with different digital skins. Opening the MNLTH yielded the sneakers, one “skin vial” and another MNLTH, suggesting future reveals to come.

RTFKT has emerged as one of the most prominent names in the NFT space, releasing collaborations with different partners that fetch high prices online. One NFT from its collection with artist Takashi Murakami sold for more than $1 million in February.

The market for NFTs has cooled some since a surge last year, but many brands are still just getting started exploring the space. Gucci and Adidas, for instance, have released their own NFTs that serve as digital collectables but also have features of membership programmes, granting owners access to different perks.

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