LaVar Ball's Big Baller Brand has unveiled the first signature sneaker for NBA prospect Lonzo Ball. It will retail for $495. 

Slam posted the official unveiling video for the sneaker on Twitter:

In an article about the sneaker, Slam noted the high price is designed to "to tap into a new market—above the athletic performance kicks from the likes of Nike, Jordan, Adidas and Under Armour, but below the high-end designer shoes of Gucci, Prada or Louis Vuitton."

Ball tweeted to anyone who might have reservations about paying such an exorbitant amount of money for a shoe:

The unveiling of Big Baller Brand's first sneaker comes less than one week after ESPN's Darren Rovell reported Nike, Under Armour and Adidas passed on an endorsement deal with Lonzo because LaVar "insisted that they license his upstart Big Baller Brand from him."

Nick DePaula of The Vertical reported Tuesday that Adidas had not yet closed the door on a potential deal with Ball:

Adidas, which sponsored UCLA this past season along with the Chino Hills (Calif.) High School basketball team that features younger Ball brothers LiAngelo and LaMelo, has yet to formally discuss a shoe deal with Ball Sports Group. 'It's not dead yet,' a brand source told The Vertical. An official meeting would potentially take place in the coming weeks, with the brand not yet ruling out making a standard endorsement offer.

Ball has made the first move by unveiling the sneaker his son will wear on the court when he gets drafted to the NBA next month. He's not being conservative in his effort to build the brand with a hefty price tag attached to the shoe.