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Nike's self-lacing HyperAdapt sneakers to set you back $720

| Nov 15, 2016 02:24 AM EST

Nike's HyperAdapt sneakers will come with a hefty price tag of $720 and will be available for purchase Dec. 1 onwards.

Nike's "Back to the Future"-style self-lacing HyperAdapt shoes will hit store shelves in a little over two weeks. However, the sneakers, which are Nike's first with the self-strapping technology, come with a hefty price tag.

On Nov. 14, Monday, Nike announced on its website that the HyperAdapt 1.0 sneakers will be priced at $720 and will be available to Nike+ members at the Nike superstore in Soho and Nike Clubhouse at 45 Grand in New York City starting Dec. 1. The shoes will come in three color variants; black, white and black/gray.

Those interested can book appointments to see and purchase the sneakers via Nike's website or the Nike+ app. Moreover, a small group of Nike+ members will be given early access to the HyperAdapt 1.0 shoes on Nov. 28. The lucky few will receive a notification through the Nike+ app's "Reserved for You" tab, and be given the chance to purchase the self-lacing shoe.

The sneakers are equipped with pressure sensors, which senses when the wearer inserts his foot into the shoe, and tightens the straps or laces automatically until it detects resistance. Users can also customize the lace settings using buttons located in the front if they feel that the shoe is either too tight or too loose.

The futuristic sneakers also feature LED lights on the heel, which indicate the battery level. The shoes come with a wireless charging dock and can run for up to two weeks on a full charge, which takes about three hours to achieve, according to Mashable.

The self-lacing technology first made its debut in the classic 1989 film "Back to the Future II," which featured self-lacing sneakers called the Nike Mag. Nike produced a batch of the the Nike Mags and sold them off for charity, with the final pair fetching a whopping $200,000.

For more on Nike's self-lacing HyperAdapt sneakers, watch the video below:

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