Nike’s RTFKT unveils web3 sneakers, angers some with U.S.-only drop

Nike’s RTFKT unveils web3 sneakers, angers some with U.S.-only drop

RTFKT, a digital fashion and collectibles firm owned by Nike, unveiled what it said is the “1st native web3 sneaker.”

Dubbed “Cryptokicks iRL,” the shoes have advanced features such as auto-lacing, enhanced lighting, haptic feedback, gesture control, walk detection and app connectivity. The sneakers will support NFC-NFT linking and NFC-NFT authentication with a special chip.

Credit: RTFKT

In a Monday tweet, RTTFKT hinted that the sneakers might have a move-to-earn system, perhaps comparable to the Solana-based game Stepn that rewards users for walking or running. The company didn’t immediately respond to a request for more information from The Block.

Public mints for the shoes start on December 14, and the drop is only available to users in the U.S. in a move that irritated some based elsewhere who expressed their displeasure on Twitter. The company said the geographic limitation was “due to advanced tech and product regulation.”

RTFKT raised $8 million in seed funding led by the crypto investment firm a16z in May of last year. Nike acquired the company in December of 2021.

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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