The news about Nike's self-lacing HyperAdapt 1.0 shoes expecting to come with a gigantic $1000 price tag now has turned out to be false. The fresh and confirmed news from Nike says that the Nike shoes will get released in December 1 with a price tag of $720.

The renowned YouTuber and sneaker enthusiast Jacques Slade confirmed and announced the $720 price and Dec. 1 release date for the most popular HyperAdapt 1.0 by spreading the word via Twitter.

To put two and two together, it's pretty much a reliable deal that the self-lacing sneakers will come right on proposed time before the holidays kick in full gear and the good news is it is going to be slightly cheaper than previously reported.

 The highly innovative Nike HyperAdapt 1.0 was initially unveiled in March and it is the first to feature Nike's new self-lacing technology. In this the wearer will hit the sensor with their heel and then the sneakers' laces will tighten up automatically.

The high end shoes with have two buttons on the side that will help the wearer loosen or tighten their fit. So, comfort won't be an issue at all.

For those looking to grab the HyperAdapt 1.0, the sneakers will be powered by lithium-ion batteries that's touted to last two weeks and the shoes will have LEDs on the heel and sole to display battery life.

The blue means the battery is still going strong and the yellow is an indication that it is no draining and the red light is a sign that it needs to be recharged as soon as possible, reports TechTimes.

Nike $720 HyperAdapt 1.0 will be available to Nike+ members in Black, White and Blue Lagoon colours at the Nike Soho store and Nike Clubhouse in New York City starting December 1. Also a small number of Nike+ members will get to check the shoes on November 28. Those lucky customers will be informed about the opportunity through the Nike+ app's "Reserved for you" system.

If you are interested to know more about booking appointments and making a purchase you can check Nike.com or the Nike+ app.