In the midst of the current crypto bear market, RTFKT announced new benefits for owning their CloneX NFT. This news brings confidence to crypto and blockchain investors, as most NFT projects that popped back in 2021 failed to deliver on their promises. In this article, we’re going to recap what RTFKT is and what new utilities were announced for all CloneX NFT holders.
What is RTFKT?
RTFKT (pronounced Artifact) is a creator-led organization. It boasts being involved in the latest game engines, non-fungible tokens, augmented reality (AR). They aim to create unique sneakers and digital artifacts. RTFKT was among the first movers in the fashion industry to enter the Metaverse and partner with other companies and brands.
The project launched in 2019, and was directly acquired by Nike in December 2021. This was regarded as a huge step in bringing Web3 applications to the mainstream. Many investors got bullish on this news, and jumped on the Metaverse bandwagon.
What is CloneX NFT?
CloneX is a collection of 20,000 algorithmically-generated NFTs belonging to RTFKT. They were first marketed as 3D characters that will be used at a later stage in the future metaverse to interact with other users. CloneX NFTs are currently traded on secondary markets such as OpenSea. The floor price for 1 CloneX NFT is currently valued at 10.3 ETH, or around $11,300.
RTFKT announes new Utilities for CloneX Holders
In today’s fast-moving cryptocurrency sphere, many concepts and applications are constantly evolving. Digital assets and their classifications are evolving right alongside cryptographic and blockchain technology. For Non-Fungible Tokens, real-world applications of smart-contracts lie ahead. There are many utilities for owning NFTs, and they change from project to another. Companies usually hype their NFTs in order to create buzz and gain in valuations.
For CloneX NFT specifically, RTFKT just announced 2 new utilities for CloneX NFT holders.
Utility of CloneX #1: 3D Files
Holders of CloneX NFTs receive access to 3D files. Those 3D files are electronic files representing a three-dimensional object. They are designed by 3D modelling so the desired object can be perceived as if it was in real-life. This is what the Metaverse promises. The creation of the 3D file is done by Computer Aided Design ( CAD ). The creators will basically be able to create anything and bring it to life on the Metaverse.
Utility of CloneX #2: Commercial Rights
Now that you can create anything and model it in 3D, it is important to claim commercial rights. Those rights were very limited in the beginning, but RTFKT announced that they expanded the commercial rights and included many other aspects like to create derivatives, mint fan art NFTs, make merch, make music…the possibilities are endless. This will be a game changer in the new Metaverse of RTFKT.
-> For more info, make sure to visit the official press release of RTFKT on Medium <-
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