Not long after their earlier sneaker releases, RTFKT managed to link up with Takashi Murakami for their next world-straddling project, except this time it was going to be digital avatars. Undoubtedly, RTFKT knew they were on to something with this straddling of two worlds. Not only did the FEWOCiOUS shoes sell out within ten minutes, but also, at their peak in October, they were going for ~16 Eth minimum. Balance is one of the keywords there - they don’t want to merely be a fashion brand, nor do they want to be just another ‘metaverse brand’.Īn encapsulating example of RTFKT’s balancing act came with their early FEWOCiOUS Collaboration where they dropped custom sneakers both physically and virtually as NFTs. The simplest way we can conceptualize RTFKT is: they’re trying to bridge/balance the world of art and fashion with the world of crypto and gaming. ![]() ![]() RTFKT uses the latest in game engines, NFT, blockchain authentication and augmented reality, combined with manufacturing expertise to create one of a kind sneakers and digital artifacts” - but, imagine reading that to your parents and trying to convince them this is the next big thing. Founded in 2020, their self-summary reads: “We are a creator led organisation. What RTFKT is trying to accomplish could easily be misunderstood by folks outside of crypto. However, we believe, in order to truly appreciate what Clone X has achieved (aside from just the numbers,) one has to comprehensively unpack the actors behind the scenes: what’s RTFKT’s deal? Who’s Murakami? How’s Nike involved? And, what does it means for their holders? RTFKT They are a giant within this industry, and their 12.5 Eth floor price (which has, on occasion, scraped multiples above that) is a symbolic testament to the space they take up. Lore aside - with 205k Eth volume traded, Clone X ranks #7 in terms of the most volume traded out of any collection on OpenSea. This is, effectively (with some embellishment,) the lore behind Clone X, a 20,000 item NFT collection that boasts avatars designed in collaboration with Takashi Murakami. We’d like to offer a possible explanation.You wake up one day and three aliens are standing before your bed - according to them, they've come to help you evolve past organic form, noetically download your consciousness onto the cloud, and explore space embodied as a digital, free-form avatar. Could Rally be benefiting from its branding of the Apes? Unlike Rally, most Ape owners can’t attract thousands of views to their particular Ape. ![]() What do we mean by the Rally marketing machine? Rally has some of the most recognizable Apes in the space – regardless of rarity – thanks to its marketing machine. This begs the question, is rarity as important as brand recognition? Is the provenance of the Ape belonging to Rally driving the price up for investors that are unable to buy an Ape outright? Well, its website, Twitter presence and followers not to mention the various forms of apparel that Rally sells to commemorate their public offerings: hats, pins, shirts, and other items for other assets. If so, this is a good thing for fractional investors who bought low and have benefited from share appreciation.īut what would be most telling is if a buyout is ever up for a vote. Hypothetically speaking, would an outside buyer be willing to pay more than $1 million (at today’s market value) for Ape #601 when the same buyer could buy three Bored Apes at floor price?Ĭould it be that more seasoned traders are taking advantage of new entrants to the space? It’s a possibility, but we tend to give investors the benefit of the doubt. Sometimes markets don’t make sense, and sometimes they just don’t make sense to us. We released our most recent NFT Insider on Jan 13th, so the turnaround in OpenSea rankings to today’s issue is about four days. In that time, Bored Ape Yacht Club has assumed the top position in volume over the past week. The Apes have now reached an astonishing floor above 83 ETH. ![]() World of Women has also gained about 1 ETH in the last four days, as has the Mutant Ape Yacht Club, one of which is IPO’ing on Rally today (more on that in just a sec).ĭisclaimer: The authors of Alt Assets, Inc.
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