It was only a matter of time… K-Swiss is partnering with Miami, FL-based NFT creation house, Walt Grace Digital, to release “Instant Classic,” a non-fungible token (NFT) in celebration of the brand’s 55th anniversary and introduction into the digital space. To coincide with the release, K-Swiss will, together with Walt Grace Digital’s sister company Walt Grace Vintage, host a launch event Dec. 4 during Miami’s Art Week.
This launch will be amongst the first of its kind to offer both a physical and digital asset in one. The K-Swiss x Walt Grace Digital “Instant Classic” NFT will be in the globally accepted format of an ERC-1155 Smart Contract on the Ethereum (ETH) blockchain as a digital variation of the brand’s 55th Anniversary, limited-edition Classic ’66 sneaker. As there will only be 55 shoes available—both physical and digitally—the NFT will serve as proof of ownership to one of the 55 pairs. With an initial sale price of $350, the NFT, like any other, can be resold within the Ethereum blockchain.
The commemorative event will see a select group of individuals who will be able to purchase an assortment of limited-edition K-Swiss products including a collaborative “Instant Classic” T-Shirt. All on-site purchases will have the option to be made by way of cryptocurrency to ensure that the Walt Grace Digital “store” has both a digital and physical presence. Additionally, the Walt Grace Digital team will be on-site to educate attendees on the world of NFTs, as well as assist in the setup of any personal accounts and to answer questions regarding the collaboration.
“Instant Classic” is to serve as K-Swiss’ introduction to the digital realm. Following this release, there will be a wider assortment of NFTs created to be usable and salable directly within the metaverse.