LeBron James pictured wearing $791 Nike sneakers that are only available via an NFT. Here’s how that works.

In a new set of photos of basketball star LeBron James in Los Angeles, he’s seen wearing red and black Nike sneakers. While it may appear like a regular pair of shoes, the process of obtaining them isn’t as straightforward as buying them with cash or a credit card at a store.

The special-edition sneakers that he’s wearing can only be obtained by minting an Ethereum ETHE nonfungible token created by Nike-owned digital fashion company RTFKT. (Nike acquired RTFKT for an undisclosed amount in December 2021 in an effort to bridge…