![]() ![]() ![]() Physical products that are linked (via NFC chips) to a digital twin (an NFT) can facilitate a safe and counterfeit-resistant re-sale market. Trustless secondary marketplace with royalty capture. ![]() So what exactly can Nike do with RTFKT moving forward? Nike was able to generate significant royalty revenue from secondary sales derived from a royalty fee programmed into the NFT’s smart contract: )and also demonstrated some of the cool things that can be done with NFTs from a tech perspective. This clever, interactive campaign allowed Nike to generate significant buzz and anticipation ahead of the reveal (the pre-reveal floor price of the MNTLH reached 8 ETH ($24,000). Collectors had to complete ‘quests’ in order to get a ‘sneak peek’ into the cube’s contents - as quests were being completed, the cube would slowly ‘break’, exposing a glowing blue object inside. This demonstrates how an established brand can directly connect with/target a specific demographic (in this case existing RTFKT collectors). Each MNLTH NFT could be burned in exchange for Nike Dunk Genesis Cryptokicks, one Skin Vial Evo (allows holders to upgrade their Sneaker with limited edition skins), and one MNLTH 2 (contents not revealed at the time of writing). The NFT was ‘airdropped’ for free to RTFKT’s NFT holders, rewarding existing RTFKT collectors. The Cryptokicks campaign is interesting for a number of reasons:ĭistribution. The collection went on to become one of the most successful NFT projects to date, generating nearly $800 million in secondary volume and will eventually become the central part of RTFKT’s roadmap (to be discussed further in Chapter 4). RTFKT’s last big splash before the Nike acquisition was Clone X - a highly anticipated limited collection of 20,000 anime-inspired digital avatars designed by a famous Japanese artist Takashi Murakami. The latter collab went on to make headlines by selling out in just 7 minutes and generating $3.2 million in revenues. On the back of its early success, RTFKT moved on to doing some high-profile collaborations, which included a limited collection of digital sneakers designed by a famous NYC streetwear designer Jeff Staple and a collaboration with a crypto-native artist FEWOCiOUS. Sandbox, Decentraland), officially partnering with famous brands (such as Atari), and experimenting with other variables (e.g. The company continued to innovate, dropping digital wearables that could be used in virtual worlds (e.g. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |