Nike (NKE) – Get the Class B report from NIKE, Inc. enters the world of non-fungible tokens with plans to produce digital shoes you can see but not touch or wear.
The footwear and apparel giant revealed on Tuesday that it is branching out into the digital metaverse after buying RTFKT Studios, a company that makes NFTs and digital shoes for the metaverse.
Nike did not disclose the terms of the agreement with the company, which was founded in 2020.
“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,” said Nike CEO, John Donahoe.
Earlier this year, RTFKT collaborated with a teenage artist to sell real sneakers which they then paired with virtual sneakers. The company claims to have managed to sell 600 pairs of sneakers in just seven minutes, generating $3.1 million in the process.
Nike has moved in a more digital direction in recent months.
In November, the company created its own virtual reality world on the popular Roblox (RBLX) – Get Roblox Corp’s Class A Report. video game platform called Nikeland.
The site is currently free. Nikeland allows Nike fans to “connect, create, share experiences and compete,” Nike said. He “created this bespoke world against the backdrop of his global headquarters and inside the immersive 3D space of Roblox, building on his goal of turning sports and gaming into a lifestyle. “.
Players can compete in many virtual games, such as tag and dodgeball. Players are rewarded with Blue Ribbons and Gold Medals for competing in Yards, building their Yards, exploring, and finding Easter Eggs.
Sean Stechler of TheStreet.com says Roblox is the metaverse stock to own.