Nike company RTFKT has unveiled plans for a unique “forging event” involving the Dunk Genesis sneakers, scheduled between October 18 and 30. 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 have the option to redeem them for physical sneakers. Interestingly, even after this redemption, the NFTs remain in the owner’s digital wallet, adding an extra layer of value. Production will be on-demand and shipping is expected to begin in June 2024. RTFKT had teased a prototype earlier this year, but specific designs remain secret.
A new path for enthusiasts
Although the window for creating new Dunk Genesis NFTs has closed, enthusiasts can still purchase these tokens via the OpenSea Marketplace. The current minimum price is 0.0825 ETH, or approximately $108. Another option is the more expensive RTFKT MNLTH, which offers a chance to obtain a Dunk Genesis NFT, with the lowest quotation at 0.3 ETH, approximately $494.
Each RTFKT x Nike Dunk Genesis pair costs the Ethereum equivalent of $222, with additional gas costs. Once the blacksmithing event ends, there will be no more chances to get your hands on these unique sneakers, positioning them as true collectibles.
What is RTFKT?
RTFKT, pronounced ‘artefact’, is a groundbreaking company co-founded by Chris Le, Steven Vasilev and Benoit Pagotto, specialists in gaming, design and technology. RTFKT was created with the aim of bringing the physical and digital fashion worlds together. 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 with the intention of leveraging its technical expertise to deliver immersive metaverse experiences, marking a pivotal moment in RTFKT’s journey.
RTFKT’s forging event serves as an intriguing case study of how digital assets and physical goods can intersect in today’s marketplace. With the evolving NFT space, such initiatives offer a glimpse into future trading trends that span the digital and physical.