Lil Durk, rapper and singer from Chicago, has announced he will be releasing an NFT digital sneaker project. Co-founded by Lil Durk, Satoshi Designs, and Nexus, the NXTG3NZ Lil Durk 7220 digital sneaker project is the latest and greatest project to enter the Metaverse.
What the Lil Durk 7220 Project Is About
The first digital drop, called the ‘7220’, will reportedly contain exactly 10,000 tokens. These tokens can be used on personal avatars in the Metaverse to accessorize characters and also symbolize ownership.
Purchasers of the ‘7220’ NXTG3NZ NFT will have exclusive benefits, such as the chance to be selected at random on Lil Durk’s Instagram live to win 1 of 10 real, physical sneakers!
According to Lil Durk:
The power has shifted to the artists and their fans with Blockchain tech. I want to not only be a successful rapper/entrepreneur but a powerhouse voice in the metaverse and NFT community, at the forefront of this movement
This project is big news as we’re seeing more and more people realize that NFT projects and releases are giving power to the creatives and no longer the suits.
Lil Durk is one of the first but you can bet just about everything he won’t be the last. Kanye, a famous rapper and designer of Yeezy, has said he won’t release any NFTs, although it is widely thought that once the space really takes off Yeezy NFTs will become a reality.
Importance of Digital Sneakers
We talk a lot about digital sneakers when we talk about the Metaverse, and that’s because SixFigureSneakerhead is a sneaker company! But you should realize and understand the importance of digital sneakers, and what you can do with them.
Here are 3 main reasons why you would want to purchase digital sneakers, like the 7220 from NXTG3NZ:
- Ownership: A big reason why digital collectibles have taken off is because of this idea that when you purchase an asset, it cannot be copied or recreated and therfore you have total ownership.
To be able to purchase a digital sneaker and have 100% security knowing that nobody can copy or duplicate it is an attratctive idea in a world where fake sneakers are a serious problem.
- To “Wear”: Obviously you can’t actually wear the digital sneakers, but you can in the Metaverse. Digital avatars that wear pdoucts that you purchase as NFTs are the future that we’re all seeing with this. It’s a really interesting idea and a big reason why NFT sneakers are so hyped.
- Investment: We’ve all seen crazy investments in the NFT spaces and digital sneaker sneakers are no different. Just like physical sneakers raise in price over time, digital sneakers can easily see heavy price influxes and can be a huge opportunity for buyers.
Frequently Asked Questions
What Are NFTs?
A non-fungible token is a non-interchangeable unit of data stored on a blockchain, a form of digital ledger, that can be sold and traded. Types of NFT data units may be associated with digital files such as photos, videos, and audio.
How do NFTs Rise in Value?
Just like any other piece of art the NFT is valued based on the credibility of the artist in the physical world, the nature of artwork, the effort put in the creation of artwork, the story behind the artwork, and the social currency of the artist.
What is NXTG3NZ?
NXTG3NZ is designed by the legendary Devonte ‘Black’ Young. Devonte is most notable for his streetwear brand Enspire and collaboration with Nike as lead designer of 3 pairs of sneakers for his childhood friend, Kevin Durant. NXTG3NZ is a digital collectible company that is redesigning and revolutionizing digital footwear.