Nike will unveils its HyperAdapt 1.0 self-lacing shoes on December 1 at a hefty price of $720 (approx. Rs 48,000). (Photo:Nike)

Nike will sell its HyperAdapt 1.0 self-lacing shoes starting December 1 at a price of $720 (approx. Rs 48,000), Nike confirmed in a statement to Mashable.

The self-lacing HyperAdapts will use a magnetic adapter to charge the shoe. The shoe is said to take up 3 hours to charge offering a battery life which can last up to two weeks. The self-lacing shoe includes LED light to indicate battery levels. When the LED’s are blue, the shoe is fully charged, when yellow it shows that only few days of power is left, and the red LEDs indicated the shoes is in immediate need for charge.

Apart form this, the shoe consists of a button which will let the user tighten or loosen the lace.