NFT creator RTFKT is driving innovation at full speed. On December 5, the 3D and digital fashion creation studio revealed a new prototype called the Cryptokicks iRL, described as the “first native Web3 sneaker” featuring the next evolution of smart sneaker technology.

Truly futuristic in style, the shoe pays homage to the limited edition Nike Mag, which debuted in 1989 with the release of the film. back to the future 2—and it’s equipped with automatic lacing, customizable lights, bluetooth pairing, walk detection, as well as wireless charging via the RTFKT Powerdeck. The model comes in four colorways and will be sold as NFTs that redeem the physical counterpart. Limited to 19,000 pairs, NFC chips are used to authenticate each physical shoe with its digital collectible twin.

The Jing take: RTFKT first shocked the world when it sold $3.1 million worth of NFT sneakers in just seven minutes in February 2021. Since its acquisition by Nike last December, the studio has helped propel the American sports giant sportswear to be a favorite on Web3. Not only did Nike launch an NFT collection of Cryptokicks with RTFKT, but more recently they launched a new Web3 shopping platform called dotSwoosh to build a community around their virtual wearables.

With this latest release, Nike and RTFKT prove they can bring together the best of the digital and physical worlds. The smart shoe capabilities highlight RTFKT’s vision, while the iconic silhouette, which i have a scream of the actor who played “Doc Brown” in the Return to the future Franchise: Reflects Nike’s decades of sneaker innovation and its importance in pop culture. Plus, there’s an added layer of connectivity: Cryptokicks iRL functionalities are unlocked through the RTFKT iRL app, where owners can customize their tuning and lighting animations. RTFKT has also teased “move to win” quests and events for sneaker holders in the future.

Sneaker owners can access different light colors and animations via the RTFKT Cryptokicks iRL app. Photo: RTFKT

Going by Cryptokick’s NFTs, one of which sold for $134,000, this version of iRL could offer a nice sales boost. And this would be welcome, too: The Beaverton-based company has been hit by macroeconomic headwinds over the past year, sending net income plunging 22 percent in the quarter ended Aug. 31. With an established market leader like RTFKT at its side, Nike is set to gear up for a long-term future in Web3.

Jing takes it reports on a top story and presents our editorial team’s analysis of the key implications for the luxury industry. In the recurring column, we take a look at everything from product launches and mergers to heated debates raging on Chinese social media.