11/8/2022 0 Comments Rtfkt clone x![]() ![]() due to certain features such as glow-in-the-dark functions or premium materials. Some pieces of merch may be more expensive to manufacture for various reasons e.g. Prices for RTFKT’s Clone X Forging consists of the following:Īssuming that the DNA collection shared the same technology as the previous Hoodie mint, there would not be any significant research and development costs for implementing NFC technology into these collectibles. Even assuming that the development of NFC technology for the Hoodie was costly, it would be surprising if it cost anywhere close to 6.5 million USD. With today’s prices (1600 USD), that would be around 6.5 million USD. Recently, RTFKT and Nike grossed 4000 eth from the mint revenue of the Hoodie, and another 5-10% royalties from approximately 1100 eth on OpenSea (another 100 eth). Within the span of a few hours, it was increased to 5%, then to 10%. Infamously, when the Hoodie was first released, it had 0% royalties. #RTFKT CLONE X SKIN#This includes the Clone X mint vial, the Clone X collection, the Cryptokicks, the Skin Vials, the MNLTH 1, the MNLTH 2 and the Loot Pod. Unless I have my timelines mistaken, this was prior to Nike’s acquisition of RTFKT, which meant that revenue from the mint need not have been shared with Nike execs…Ĭreator royalties are almost always set to 10%, which is the maximum that Opensea allows. There are a few indications of this even prior to the Clone X Forging.Ĭlones were a 20,000 collection that had a mint price of 2 eth. I think its fairly clear that RTFKT and Nike are profit maximising (again, just acknowledging it). RTFKT’s recent actions have convinced me that they view their holders as more of the former - this isn’t necessarily a bad thing, but just something that ought to be acknowledged. NFT holders have always straddled the uncomfortable line between consumers and shareholders of a project/organisation. Instead, members of the community stepped in to teach each other about how the hoodie could be minted from its smart contract instead of through the website. ![]() The RTFKT team went silent during the initial confusion of the mint, which was precisely when damage control and communication were sorely needed. In other words, there was a minor time rug (I had personally woken up at 5.30am for the mint and was left waiting for some time). The mint also had to be delayed for an unspecified amount of time given that certain preparations could not be completed in time. ![]() Details about the mint prior to 21 July (the mint date), including the 0.2 eth mint price, were not forthcoming. Many members of the community had expected to be airdropped the hoodie, or to be able to mint for free, given that other collections like Azuki had recently provided merchandise to its holders for no cost.įourth, communication prior to, during and after the mint was lacking. #RTFKT CLONE X FREE#Third, the mint price for the hoodie, which was set at 0.2 eth (which included free worldwide shipping). There was much unhappiness over this, especially amongst Clone owners, who felt that the utility of their NFT was ‘reduced’ to being equal to Cryptokick owners. RTFKT decided to go with a FCFS (first come first serve) system to determine how the limited mint spots were allocated. Second, the manner in which mint spots were allocated. As each Clone X or Cryptokicks NFT guaranteed 1 mint spot, there were 10,000 NFTs that could not be ‘used’ to mint the hoodie. In the aftermath of the mint, the community’s complaints revolved around the following four points:įirst, the decision to cap the collection at a size of 20,000. ![]()
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