Nike and RTFKT are teaming up to offer real-life versions of the Dunk Genesis sneaker to owners of the NFT token. The Dunk Genesis was originally released as an NFT in April 2022, and now owners will have the opportunity to redeem their tokens for up to five physical pairs of the sneaker.
RTFKT, a company known for creating original digital sneakers, was acquired by Nike at the end of 2021. They have announced a “forging event” for the Dunk Genesis, which will run from October 18th to October 30th. During this time, NFT holders will be able to purchase a maximum of five sneakers across three different colorways.
Each owner can purchase one pair of the Dunk Genesis “OG,” as well as two pairs each of the Dunk Genesis “Void” and Dunk Genesis “Clone X.” Importantly, upon redeeming the NFT for the physical sneakers, the token will not be burned and will still remain in the owner’s wallet.
The physical sneakers will be made to order, with shipping expected to begin in June 2024. While the specific design details of the three sneakers have not been revealed, RTFKT showcased a prototype on Instagram in August. The Dunk Genesis maintains the core lines of the Dunk Low but adds a new, bulky sole unit and other tech-inspired flourishes.
While the opportunity to mint the Dunk Genesis NFT has passed, the required token can still be purchased through the OpenSea marketplace. As of now, the cheapest available token is 0.125 ETH (approximately $206). Alternatively, the Dunk Genesis NFT can be obtained by purchasing and opening an RTFKT MNLTH, with the cheapest listing currently priced at 0.3 ETH (approximately $494).
Once the forging event concludes, there will not be any additional opportunities to purchase the physical Dunk Genesis sneakers. Each pair will sell for the Ethereum equivalent of $222 plus additional “gas fees.”
This collaboration between Nike and RTFKT demonstrates the growing intersection between the metaverse and physical products. By bridging the gap between digital and physical, brands are able to offer unique and limited-edition experiences to their customers. With the Dunk Genesis, Nike and RTFKT are capitalizing on the popularity and collectibility of NFTs to create a highly sought-after sneaker release.
About the Author:
Ian Servantes is a Senior Trending News Editor for Footwear News, specializing in sneaker coverage. He has previously reported on streetwear and sneakers at Input and Highsnobiety. With a passion for basketball, Ian doesn’t shy away from getting his kicks dirty.
