Much like its real-life counterpart, the NFT sneaker world is all about exclusivity. Despite the fact that the digital shoes can’t be worn, consumers are willing to pay insanely high prices — $10,000, to be exact — just to say they own the NFT sneaker... or flip it for profit.
The limited qualities of NFTs, along with their expenses, make the digital artworks daunting. For the average person, owning or creating an NFT is an idea as unreal as the virtual objects. Companies like CryptoKickers and Metaplex, however, want to make NFTs more accessible by helping you create, customize, and sell your own NFT sneakers.
You could be the Yeezy of NFT sneakers — Using the blockchain Solana, built in collaboration with Metaplex, CryptoKickers is looking to create — and help you create — “footwear for the new world.” Much like a video game, the platform will allow users to customize their pair of digital sneakers to their liking, before minting them for sale. CryptoKickers claims you’ll be able to Hodl, AirDrop, or resell the sneakers within its same marketplace, allowing you to easily sell the design or exchange the crypto cash for another NFT sneaker.
Although a number of NFT footwear is available on CryptoKickers — including not just sneakers, but slides, too — the platform has yet to launch its NFT creation program. It has only hinted the service will be available “soon,” but consumers can browse CryptoKickers website to get an idea for their impending digital sneaker design.
NFTs and sneakers are the perfect fit — CryptoKickers is one of the first platforms making NFT footwear more accessible to the masses, though plenty of other companies have made a profit by selling their NFT sneakers. RTFKT Studios, which notably made $3.1 million off one digital shoe collection, has been pumping out NFT iterations of classic silhouettes and original designs. Prices start at $1,500 for editions of 300 and run up to $10,000 apiece for more limited editions — and yes, people are buying them for that price or more.
There’s clearly money to be made in NFTs, which may explain why bigger names like Jeff Staple and Gucci have dipped their toes into the market. Input has already predicted the impact of the digital sneaker market — one which will only grow once companies like CryptoKickers introduce NFTs to the general public. Much to our chagrin, not all of us have the funds at the moment to buy a thousand-dollar virtual sneaker.