RTFKT - MNLTH NFT Reveal, Reactions & More

RTFKT - MNLTH NFT Reveal, Reactions & More

Today, holders of the RTFKT Studios MNLTH had the option to finally reveal the contents of the box. The 20,000 NFT collection had holders completing quests over the past couple of months, which has lead up to the final reveal. 

MNLTH Performance

On Feb. 5, RTFKT Studios sent Clone X and Clone X Mintvial holders the mysterious boxes which included logos from the metaverse fashion and gaming company and Nike, which acquired RTFKT last December. The 20,000 ERC-1155 tokens were airdropped without further details or clues about what was inside, until a few days later, on Feb. 11, when RTFKT announced a series of quests that would be required before the reveal. 

The quests were not required for holders to complete but as they have been completed, the MNLTH slowly started to “break.” Before the opening, the black case started to separate, exposing a glowing blue object inside.

In the two months since its release, MNLTH saw a steady run-up in floor price. After the airdrop, the boxes quickly began selling on the secondary market for 4 ETH in February. Since that time, the price of each MNLTH box, unrevealed, has nearly doubled to just shy of 8 ETH before today's anticipated reveal.

Community Expectations

Leading up to the reveal, expectations around the industry were quite high for the box contents. Whether it's Nike's involvement or the success of Clone X, a pre-reveal floor price of 8 ETH speaks volumes about the excitement and expectations attached to the MNLTH. Some of those expectations though are perhaps too high.

The MNLTH Reveal

Prior to the Friday morning zen session in the RTKFT Discord, moderators shared instructions for the upcoming reveal, indicating users would need to utilize a desktop and the MetaMask wallet, or a hardware device connected to MetaMask. 

At 1:20 p.m. ET, RTFKT released the "Ultimate Quest" which appears to lead the holders to the solution to unlock the box. 

 

Initial reactions to the reveal have been mixed, but the market has spoken, sending the price sharply downward since the official announcement. Prior to the reveal, the floor price had held at nearly 8 ETH, yet, post-announcement it dipped to 4.5 ETH, having been bought back up to 5.2 ETH at the time of writing. 

Update: 5:00 p.m. E.T. - RKFKT has released the website for holders to burn the MNLTH NFT here https://mnlth.rtfkt.com/. In exchange holders will receive, one Nike Dunk Genesis CryptoKicks, one Skin Vial Evo, and one MNLTH 2. 

Update: 5:49 p.m. E.T. - RTFKT Studios have partnered with Nike CryptoKicks to create Sneakers, powered by Skin Vial. The vials allow holders to upgrade their Sneakers with limited edition skins. Collect, evolve, and breed skins. Evil X is the first Skin Vial collection, which includes 8 Clone X DNA- based skins.

Update: 6:25 p.m. E.T. - After an initial sell-off, the community has started to come to terms with all the MNLTH holds. The floor on the MNLTH NFT has bounced to an all-time high of 9.75 ETH, while the CryptoKick and Skin Vial are worth 2.45 and 1.25 ETH respectively.

This story is developing and will be added to as the MNLTH reveal unfolds! Check back here for more details, or follow our curated newsfeed for the latest. 

 

More about RTFKT - MNLTH

MNLTH is a collection of 20,000 mysterious boxes residing on the Ethereum blockchain. The MNLTH NFTs were airdropped to all CloneX and PodX holders for free. This is the first official Nike co-branded product released by RTFKT since they were acquired by Nike in December of 2021. Additionally, this is Nike's first-ever NFT.

Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice.
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