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.
I’ve been holding this Nike box for 2 months. It’s currently worth 7.75 ETH ($23000). If this doesn’t change my life when it reveals tomorrow I’m selling it all and quitting web 3 pic.twitter.com/8aKlvbANEF
— MenaceToSociety 🥶 (@NFTsAreNice) April 21, 2022
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.
MNLTH ULTIMATE Quest,
— RTFKT Studios (@RTFKTstudios) April 22, 2022
Starts Now ⚔️
End the journey together, like you started it.
Let’s OPEN THIS MNLTH !!!! 💥
GLHF 🍀🧠 pic.twitter.com/UINQVyFI5F
Following the original quest announcement, the RTFKT team released two hints on Twitter and later the contents themselves, which include interchangeable, breedable, and customizable metaverse sneakers.
RTFKT, together with Nike CryptoKicks, introduce the future of Sneakers, powered by Skin Vial tech
— RTFKT Studios (@RTFKTstudios) April 22, 2022
Welcome to 2052 : 🌐👟🧪 pic.twitter.com/7449L79Bf4
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.
