RTFKT MNLTH Floor Price Plunges Following Recent CryptoKicks Announcement!

RTFKT MNLTH Floor Price Plunges Following Recent CryptoKicks Announcement!

RTFKT Announcement With Cryptokicks

Recently, through their Twitter account, RTFKT and Nike formally announced the launch of their first “native web3 sneaker,” the CryptoKicks iRL.

Related: Elon Musk: Bringing Crypto To Twitter Is A ‘No-Brainer’

Despite this exciting announcement however, the team has been receiving heavy criticism from their community, who have argued that their CryptoKicks & MNLTH announcements make no sense.

Many argue that they find it unfair that holders of the MNLTH 2 NFTs, which is essentially a mint pass for the Cryptokicks IRL, will still have to pay an additional fee to mint the CryptoKicks. 

Aside from that, there were also a lot of complaints that the RTFKT team had only revealed then that the physical sneakers could only be forged and shipped to US citizens due to “advanced tech and product regulation.”

MNLTH Price Plunges

With so much backlash and criticism following the announcement, the RTFKT x Nike MNLTH NFTs saw their floor price sink considerably. According to data from CryptoSlam, the MNLTH 2 saw its floor price fall by up to 52% within the past 24 hours, now trading at a floor price 0.09 ETH at the time of writing.

These numbers are a massive drop considering the fact that the MNLTH 2 had been seeing massive trading volumes within the past week. According to data from DappRadar, the MNLTH NFTs had been seeing their trading volume surge by more than 1000% within the past 7 days.

Related: Report: Crypto Lender Genesis Owes Gemini Customers $900 Million!

For more info regarding Crypto Alpha and NFTs Alpha.  Always follow us on Twitter and Instagram.


Related post