Slam Jam’s latest New Balance sneaker collaboration isn’t actually a sneaker. Instead, the two brands are in cahoots to release a take on the latter’s 1906 penny loafer, a sneaker-like slip-on shoe that derives its metallic upper from NB's 1906R sneaker.

After linking up for two collaborative takes on the 991 in the last few years, Slam Jam and New Balance’s third drop is a little different, but no less techy-looking.

The silver-toned part-sneaker part-penny loafer takes the technicalities of a New Balance sneaker (namely the materials and the midsole of the 1906) and blends them with the traditional shape and design of a classic penny loafer, down to the slit in the forefoot intended to hold a penny. Finally a use for your change.

But, also, it’s an unholy concoction that on paper shouldn’t work, but in reality, well, just does.

When New Balance revealed its first loafer silhouette alongside Junya Watanabe at Paris Fashion Week men’s earlier this year, it instantly altered my perception of the middle ground between dress shoes and running sneakers.

Suddenly, two seemingly polar opposite realms were cohesively intertwined into one Frankenstein’d shoe that, unbeknownst to me, works seamlessly.

The crazy shape is made crazier by the 1906's running shoe-inspired sole unit, that really should upset the balance of everything happening above but really only makes it that much nuttier (in a good way).

Since Watanabe first revealed the bizarre loafer-sneaker, New Balance has quietly teased a handful of inline iterations of its 1906 loafer, including a yet-to-be-released vivid green pair.

Although Slam Jam's New Balance footwear collab is yet to be revealed in full, the two brands have confirmed that an official unveiling will take place on "April 16 7-10 pm". They didn't even explain which sneakers they were actually working on.

From the teaser image shared to Slam Jam's IG, though, it's pretty obvious that at least one of the shoes in question is the 1906 loafer.

Historically, formal wear and streetwear should never mix. But now, it appears that they are now basically one and the same.