The first official Nike RTFKT MNLTH NFT will have its contents revealed after the owners purchase them, making it a pricey mystery box at a current price of around $15,000. What might be inside?
2022 is looking like the year when NFTs and sneakers will finally overlap in a big way.
Since Nike’s acquisition of RTFKT in December 2021, our early prediction of sneaker NFTs entering the resale world became relevant earlier than we thought.
The question is though, will sneakerheads welcome or reject this transition into the metaverse?
Let’s break down this first release by Nike and RTFKT and what it means for resellers and sneakerheads.
Nike Enters the Metaverse with RTFKT MNLTH Release
RTFKT sneakers were first released in early 2021 with the FeWOCIOUS collaboration.
Given the hype and resale value that the FeWO collection ended up generating, we’ve been in great anticipation of an RTFKT sneaker NFT drop, it’s pretty much inevitable that a Nike RTFKT drop will have more significance and value than the first non Nike RTFKT sneaker NFT.
On Thursday, February 3rd 2022, we were teased an image of what would later be found out to be the MNLTH NFT:
We got an official announcement of this teased image being a collaboration with Nike along with an Opensea (one of the biggest platforms for NFT selling) listing on Saturday, February 5th, which is the release date of the collection.
This drop is far different than most releases as it remains a mystery box that will reveal its contents over time due to a new technology the brands are using called D.A.R.TX
D.A.R.TX : Dynamic Artefact Reveal Technology
So at this point, days after the release date, we still only have a box with both brand logos on the outside and unknown contents on the inside.
We were told that the drop would continue to play out in a reveal based on the following information from RTFKT’s Twitter:
Info on D.A.R.T X and how it affects MNLTH reveal
- → Reveal is not based on a date, but triggers
- → Triggered by the community
- → Triggered by the blockchain.
Quest and clues will be given weekly, if you, RTFKT community, achieves those missions, the MNLTH will react
A cryptic tweet followed days later regarding a quest that must unfold to find out what’s inside… just please let it be shoes…
MNLTH Quest Series Release Date
The first reveal of the MNLTH Quest was on February 11th 2022, making it the release (technically reveal) date of this NFT.
A heart was revealed after a group meditation — a far cry from a virtual pair of kicks that we were expecting.
Nike and RTFKT know the hype behind this whole thing so they’re teasing us and milking out all they can from this, so it can be expected that resale prices will be high.
Resale Prices for Nike RTFKT MNLTH NFT
Even without there being shoes at all confirmed in the box, digital or physical, the current price for this collection on the aftermarket is a generally unattainable $15,000 per box.
NFTs may be a game for the rich and famous among us, but for us plebian bystanders we can’t help but watch in hope that Nike will soon make an NFT that we can access at normal prices.
The future resale price of the box will depend on a number of factors, including:
- the general sentiment/value of the NFT market
- the content of the further MNLTH Quest reveals (shoes would be huge)
- if any associated physical merchandise, particularly sneakers, will be granted to MNLTH NFT owners
The coolest and strangest thing about this particular drop is it’s bringing crypto people into the sneaker/hypebeast world and vice versa.
Based on the ridiculous price and overall sentiment from sources like the low Sneakernews community rating pictured below, it doesn’t seem like it’s sneakerheads driving this early price action.
Love it our hate it, the high brow world of valuable crypto NFT assets is overlapping with Nike and sneakerheads.
Now that Nike has sued StockX for making NFTs of its shoes, there’s only one source to look for when it comes to Nike NFT sneakers, and that’s RTFKT.
Whether or not this particular collection will hit the six figure prices of iconic NFTs like the Bored Ape Yacht Club and Cryptopunks will remain to be seen, but one thing for certain is that we are watching revolutionary history unfold in front of our own eyes in real time.
What a time to be alive!