(AllHipHop News) Hip-Hop mogul Jay-Z has teamed with Nike to create a limited edition sneaker for charity. Only five pairs of Nike's "All Black Everythings" are being made in conjunction with the World Basketball Festival, which is taking place in New York from August 12th-22nd. Each pair represents one of the five countries playing in the event and according to organizers, Jay-Z is the only other person in the world with each one of the five exclusive sneakers. Nike donated the custom pairs to be auctioned off to benefit Jay-Z's nonprofit, The Shawn Carter Foundation.Tonight (August 12th), Jay-Z will hit the stage at Radio City Music Hall to launch the World Basketball Festival. "We're excited to bring together the international prestige of Jay-Z and the USA Team on stage at famed Radio City Music Hall to open the first World Basketball Festival. This will be a historic night," said Trevor Edwards, Nike VP Global Brand and Category Management. "We're also honored to collaborate with Jay-Z on limited edition Air Force 1's that celebrate the countries participating in this inaugural event."Fans interested in bidding for the shoes can click here. The bidding process started at 9:00 AM ET.The price for the shoes have already skyrocketed, with bids reaching over $1,000 U.S. dollars as of press time.