NIKE enters the metaverse with the acquisition of RTFKT
the latest metaverse news comes from the sportswear giant NIKE and its recent acquisition of virtual sneaker designer RTFKT (pronounced “artifact”). no details of the deal have been released, but it likely signals NIKE’s next step in creating NFTs and other digital assets. the brand already holds a patent for blockchain enabled digital shoes, filed in 2019.
NIKE Chairman and CEO John Donahoe said of the investment,“This acquisition is another step that accelerates NIKE’s digital transformation and enables us to serve athletes and creators at the intersection of sport, creativity, games and culture. We are acquiring a team of highly talented creators with an authentic and connected brand.Our plan is to invest in the RTFKT brand, serve and grow their innovative and creative community and expand NIKE’s digital footprint and capabilities.
x atari RTFXT sneakers
images courtesy of RTFKT
founded in 2020 by benoit pagotto, chris le and steven vasilev, RTFKT is already making waves with a recent collaboration with takashi murakami on a series of virtual avatars. digital Brand also teamed up with crypto artist FEWOCiOUS on a collection of 600 NFT sneakers that sold for $3.1 million.
Benoit pagotto, co-founder of RTFKT, said he would join the NIKE family,“This is a unique opportunity to grow the RTFKT brand and we’re excited to leverage NIKE’s core strength and expertise to build the communities we love.. NIKE is the only brand in the world that shares the deep passion we all have for innovation, creativity and community, and we’re excited to grow our brand that was entirely formed in the metaverse.
one of the virtual avatars from RTFKT’s ‘CLONE X’ collaboration with takashi murakami