Nike And RTFKT Collaborate To Create Physical Boots And NFT

Nike cooperates with RTFKT to launch an nft collection. (Photo; Doc. Sneakernews)

JAKARTA - Nike, the world's leading sports clothing and shoes company, along with RTFKT, a digital art studio, has entered into partnerships in NFT (Non-Fungible Token) trading.

Both sides created an exclusive collection of physical sneakers and NFT Dunk Genesis Cryptokicks worth nearly IDR 21.9 trillion (1.4 billion US dollars) and generated revenue of up to IDR 2.7 trillion (USD 170 million). This partnership reflects an interesting meeting between digital assets and physical merchandise, paving new avenues for the industry.

One of the main attractions of this collaboration is the forcing event held by both parties. Information alone, forcing is a term that is often used in the context of PoS (proof-of-Stake) and refers to the process of validating transactions and creating new blocks in blockchain networks. Forging is done by entities or validators selected to process transactions and maintain network security by producing new blocks. This entity is usually referred to as a "forger" or "validator."

The presence of this forging service provides an opportunity for NFT holders to have limited edition Nike-RTFKT shoes. This event triggered a trade surge of up to 600%, showing consumer enthusiasm for this innovation.

Combining The Physical And Digital World

The concept behind this collaboration is to combine the physical and digital world in a unique way. NFT holders can buy physical products that match their NFT, which serve as proof of ownership and authentication.

This not only increases consumer involvement, but also strengthens the verification process. Even leading NBA stars such as LeBron James have accepted this innovative approach, bridging the gap between their collection of physical goods and digital assets. This move also helps validate the desired shoes and maintain their validity.

The development of NFT Dunk Genesis Cryptokicks has been a trigger for a significant spike in trading activity. In just October, trading for the highly sought-after NFT had risen to more than US$500,000, equivalent to Rp7.8 billion.

This strong market response clearly shows that there is a strong attraction to combining NFT with exclusive physical goods. Nike and RTFKT have created a real example of how NFT technology can be combined with traditional consumer goods in an effective way.