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NFTs and social capital: How projects are collaborating to the mutual benefit of the entire sector

Published 02/21/2022, 02:30 PM
Updated 02/21/2022, 07:40 PM

On Dec. 2, 2021, Bored Ape Yacht Club (BAYC) amassed the attention of culture-driven athletic brand Adidas (OTC:ADDYY) and cemented their partnership, raising both its notoriety and value. Meanwhile, RTFKT Studios was acquired by Nike (NYSE:NKE) and has also garnered the community’s attention by airdropping the first Nike nonfungible token, MNLTH.

The MNLTH airdrop lives up to its name, as RTFKT has introduced a new concept to NFT reveals: The community triggers it. The MNLTH NFT is only revealed once the community collectively completes all required quests, with members speculating whether the contents are Nike goods.

FoxFam all-time average price / volume. Source: OpenSea
Coolman Universe 7-day price / volume. Source: OpenSea
RTFKT MNLTH all-time average price / volume. Source: OpenSea

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