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NFT sneakers: overpriced virtual trainers

NFT sneakers: overpriced virtual trainers

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The current buzz around NFTs continues in the fashion world, and it’s not going to stop any time soon given the exorbitant prices being charged. NFT collectibles have skyrocketed globally in recent weeks. Just recently, it was virtual sneakers, by young artist Fewocious, that made $3.1 million in seven minutes through his collaboration with virtual trainer brand RTFKT Studios. Focus. 

 

As a reminder, NFTs are pieces of digital real estate that are tracked on a blockchain, which is a record of digital transactions that cannot be altered. A non-fungible token is uniquely identifiable and is not interchangeable with anything else unlike cryptocurrencies. NFTs are part of the Ethereum blockchain, which is a crypto-currency like bitcoin, and is the currency in which NFTs are traded.

 

“NFTs are the future” When I started last year, it wasn’t as big as it is now. It was like my little community. Now I’m like, guys, we made it, the whole world knows about our space. Every week I’m more and more surprised at how much bigger it’s getting.”

 

 

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A post shared by FEWOCiOUS (@fewocious)

 

Indeed, it took only seven minutes on 27 February to sell out of the 18-year-old artist’s limited edition sneakers in collaboration with the design brand Rtfkt.

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Photo à la Une: © Fewocious

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