Before Nike ever dropped their first NFT collection, they bought RTFKT (pronounced “artifact”), a company that specializing in designing virtual sneakers. That acquisition went hand in hand with a patent filing for “cryptographically secured digital assets” in sneaker form, and soon after, CryptoKicks was born. The inaugural collection, Nike Dunk Genesis, included 20,000 sneaker NFTs that sold for between 2.5-3 ETH, or between $7,500 and $9,000 each. Nike is also selling digital vials (starting at approximately $2,500) that allow CryptoKicks owners to change the “skins” or the look of their sneakers. By understanding the hype culture around the brand, Nike successfully tapped into the tech desires of its most dedicated fans. Many self-proclaimed sneakerheads are already primed as collectors — collecting sneaker NFTs is a natural next step.