Virtual sneaker brand RTFKT Studios collaborated with crypto artist FEWOCiOUS to create three physical pairs of sneakers matched with digital tokens. Certain pairs of sneakers are collectibles on their own and the NFTs (non-fungible tokens) matched with each physical pair hold value that promises to grow over time too.
Cryptographic tokens, which represent something unique, are becoming increasingly popular as people invest in completely digital collectibles in fashion, art, music and more.
The range from RTFKT Studios also includes digital merch in the form of a Drip and a Charm. In the span of seven minutes, the sneakers sold out, generating more than $3.1 million. The Charm design was sold for $88,880 while each Drip was sold for $1,500.
Token-Paired Sneakers
RTFKT Studios Created Three Sets of Physical Sneakers with NFTs
Trend Themes
1. Nft-linked Products - Businesses can explore creating physical products paired with NFTs to tap into the growing interest in digital collectibles.
2. Crypto Art Collaborations - Collaborating with crypto artists, like FEWOCiOUS did with RTFKT Studios, can create unique products that appeal to a new generation of consumers.
3. Fast-selling Digital Fashion - There is a market for exclusive digital fashion items, like the Drip and Charm from RTFKT Studios, that can quickly sell out and generate significant revenue.
Industry Implications
1. Fashion - Fashion brands can launch limited edition physical products paired with NFTs, similar to RTFKT Studios, to tap into the growing popularity of digital collectibles.
2. Art - The art industry can explore partnerships with crypto artists to create unique collectibles that bridge the gap between digital and physical art forms.
3. Music - Musicians and music companies can tap into the market for exclusive digital merch, like the Charm from RTFKT Studios, to generate additional revenue streams.