The image of LeBron James with Web3 footwear achieved great visibility and popularity when it was disseminated via The Lakers’ Twitter platform. Subsequently, RTFKT released a social media post featuring the aforementioned footwear on its official platform.
The RTFKT x Nike Air Force 1 Genesis comprises a limited series of exclusively 1,776 pairs of sneakers featuring a unique design. The acquisition of these sneakers is conditional upon the procurement of a non-fungible token (NFT) followed by the subsequent exchange of the digital asset for the physical product. The secondary market valuations for Genesis non-fungible tokens (NFTs) initiate at 0.4 Ethereum (ETH), equivalent to $740 when transacted through the OpenSea platform. According to the official FAQ, the physical sneakers are subject to redemption only until the 8th of May.
Other styles of RTFKT x Nike Air Force 1 NFT-based kicks are available at varying prices and quantities. The most limited style is “Alien,” with only 60 pairs starting at 5 ETH ($9,245) and a neon twist on the Lakers’ colors.
Nike acquired RTFKT in Dec 2021 to blur physical and virtual product boundaries. RTFKT sells NFT shoes starting at $11 up to $9,440. In May 2022, Nike sold an NFT sneaker designed by Takashi Murakami for $134,000.
The procurement of LeBron James’ sneakers, which he currently sports as he leads the Los Angeles Lakers in the second round of the NBA playoffs against the Golden State Warriors, is shrouded in ambiguity with regard to whether he acquired them through personal means or received them as a gift from Nike. It has been established that the NBA luminary has secured a lifelong contractual agreement with Nike, which is valued at approximately $30 million annually, constituting one of the most substantial endorsement packages in Nike’s chronicles.
The practice of associating non-fungible tokens (NFTs) with tangible items is gaining momentum, with Nike at the forefront of Web3 innovation within the fashion industry. The manifestation of LeBron James’ involvement in the said action is not unexpected, given his long-standing association with Nike. However, the mere expectation of something does not necessarily confer significant importance upon it. At Rarity Sniper, we shall monitor the minimum valuation of the RTFKT x Nike Air Force 1 range so as to evaluate the potential impact of LeBron’s endorsement on sales.
