In a sign that non-fungible tokens (NFTs) might be staging a comeback, someone has paid $130,000 U.S. for a pair of virtual Nike (NKE) NFT sneakers called “Cryptokicks.”
The sneaker is part of the Nike Dunk Genesis Cryptokicks collection of 20,000 NFTs launched by Nike and RTFKT (pronounced “artifact”), a virtual sneaker designer Nike bought in late 2022.
The Nike NFT is rare, coming with a colorful design by famous artist Takashi Murakami. Of the 20,000 virtual sneakers in the collectible set, there are only 98 with the design that sold for $130,000 U.S., making it a collector’s item.
Other Nike NFT sneakers in the collection have been selling for between $5,000 U.S. and $9,000 U.S.
Nike is one of many companies betting on the future of the metaverse. In addition to buying RTFKT last December, the company has created “Nikeland” in Roblox, an online metaverse site frequented by millions of people each day.
Another big sneaker company, Adidas (ADS), released a metaverse collection of 30,000 NFTs, partnering with the Bored Ape Yacht Club.
Nike has not announced plans to provide the holders of the NFTs with real-life versions of the sneakers, though owners can wear their virtual shoes in the metaverse.
Nike’s stock has declined 10% in the past year to trade at $119.50 U.S. per share.
