What is CloneX?

The CloneX project is a collection of 20.000 symbols that are designed to interact with the blockchain's metaverse. The project is supported by Ethereum, which is a digital studio known for its NFT sneakers. The company also partnered with various icons to launch projects, and one of these is the iconic icon known as Murakami.

Murakami and CloneX

Aside from the NFT sneakers, the artist also included various body parts from his own creations, such as clothes, helmets, and eyes. The CloneX project's style is similar to that of a manga character, and this is why it's referred to as a "Murakami element."

The goal of the project is to create unique and rare items that can be used to collect other types of memorabilia, such as punks. The creators of the project refer to their characters as driven 3D models, which means they can be used in various applications, such as augmented reality glasses. The first 10,000 characters will be made available to the public during a two-day pre-sale. After that, the remaining 10,000 will be released to the public. Before collaborating with the project, the artist collaborated with other well-known individuals, such as Kanye West and Louis Vuitton.

After seeing an Instagram post about RTFKT, he immediately fell in love with the company's NFT technology. He started communicating with its team and eventually became a part of the company's operations.

Unfortunately, the company's recent auction for the CloneX collection didn't go well. The auction, which was conducted through a Dutch auction, started with a high price and gradually decreased until the winning bidder accepts the price.

Due to an attack on its website, the auction was temporarily stopped. After the auction was suspended, the company decided to set a single price for the remaining NFTs. This has been criticized by previous buyers, who noted that it was unfair to those who have already invested a lot of money.

Nike and RTFKT

It was speculated that Nike was planning on exploring the potential of the NFT ecosystem. On December 13, the company announced that it had purchased RTFKT. This caused investors to rush to the CloneX platform to buy the digital assets related to the acquisition. Before the news about the acquisition, the price of the token was only three ETH. After the company's announcement, the value of the assets related to the acquisition increased.

Conclusion

Despite the negative effects of the auction last year, Nike's acquisition of RTFKT could help the company survive the challenges it will face in the future. Although trust is already established in the NFT space, it will be hard for the community to rely on it.