Unsurprisingly, the Nike Hyperadapt—a cutting-edge piece of footwear from the Swoosh making use of its self-lacing technology—is going to be one of the most expensive releases ever from the brand. Nike confirmed today that the model will launch on Dec. 1 for $720.

A handful of sites were circulating info about a $1,000 retail price for the shoe over the past couple of days, but Nike clarifies that the shoe was never priced that high.

Nike unveiled the Hyperadapt at its 2016 Innovation Summit. The model is something of a more functional take on the technology imagined by Nike and designer Tinker Hatfield in 1989's Back to the Future: Part II via Marty McFly's Mag sneakers.