Nike is taking innovation to a whole new level; its shoes now lace themselves.
The Beaverton, Oregon, company announced on Wednesday the Nike HyperAdapt 1.0, the first sneaker with "power lacing." After a decade spent securing patents, the company has unveiled an adaptive sneaker that it said was self-lacing and self-fitting.
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It will be the first mass-produced sneaker of its kind, the sportwear giant said.
"We think this is going to change the way all shoes are made in the future," the shoe's creator and lead Nike designer, Tinker Hatfield, told CNBC.
The shoe has been 30-plus years in the making since the release of "Back to the Future" Nike CEO Mark Parker told CNBC's "Squawk on the Street" during the company's innovation summit Thursday morning.
"We're not seeing consumers backing off of really innovative products ... that's what we're all about," he said.
According to Nike, the shoe automatically adjusts to the athlete's foot, and can be adjusted by plus and minus buttons located on the sides of the sneaker.
The shoe's stitching combines the FlyWeave and FlyWire technology that Nike had previously introduced.
"I think there's a wide range of people that are really interested in this whole self-lacing, adaptive performance," said Parker on the shoe's market. "Obviously, you have the Sneaker Heads who are all over it. I mean, this has been a buzz for them for years."
There was even a write-in petition to finish the product, Parker said.
The HyperAdapt 1.0 will be available in the 2016 holiday season, exclusively on Nike's new digital application Nike +, in three color variations. Parker disclosed that the price is yet to be determined.
He also said that the "adaptive lacing" will start off small, but will eventually make its way into running and baksetball shoes as well, becoming "more ubiquitous" in every sport category.
"This is our first effort," said Hatfield. "We know it's not perfect but it's a big step forward," he added.
Hatfield said Nike was already working on the shoes's second iteration.
"Much like an autonomous car is adaptable and can tell you when someone is too close to you, these shoes can sense your body and react accordingly," he said.
"It's great to be able to put a product out there that is a step toward the future of adaptive performance," said Parker. "The performance that adapts to you real-time to suit your needs as an athlete is going to be a part of product more and more as we head into the future.
—CNBC's Josh Weiss contributed to this report.