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Nike Steps Into the Metaverse by Acquiring RTFKT Studios
On December 13, Nike
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the company has purchased the digital collectibles firm RTFKT Studios. The news follows Nike’s
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during the first week of November, and the company’s recent integration with the virtual game Roblox. The footwear firm published a blog post about “
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” a Nike-themed virtual world located in the Roblox metaverse. Following Nike’s moves into the realm of the metaverse industry and blockchain world, the company’s competitor Adidas has been
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and the
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as well.
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was formed by three friends at the beginning of the Covid-19 era in January 2020, according to the website. The web portal also notes that RTFKT (pronounced artifact) is focused on non-fungible token (NFT) technology, blockchain authentication, and augmented reality (AR). In February, RTFKT and an NFT artist dubbed “
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,”
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of physical and virtual sneaker NFTs for $3.1 million at the time of settlement. RTFKT is also behind the
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.Clonex NFT avatars are NFTs that allow people to leverage them in both the physical world and the metaverse realm. Clonex NFTs were designed by the Japanese artist Takashi Murakami and
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, the avatar NFTs sold out quickly but with the sales suffering from “attacks and controversy.”Nike President Says Acquisition Will ‘Extend Nike’s Digital Footprint and Capabilities’
John Donahoe, the president and CEO of Nike spoke about the RTFKT acquisition and the company’s steps toward the metaverse.
“This acquisition is another step that accelerates Nike’s digital transformation and allows us to serve athletes and creators at the intersection of sport, creativity, gaming and culture,” Donahoe said in a statement. “We’re acquiring a very talented team of 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 extend Nike’s digital footprint and capabilities.”
RTFKT is now a part of the NIKE, Inc. family.👁🗨
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— RTFKT Studios (@RTFKTstudios)Login for hidden links. Log in or register now.
In early November, Nike made sure a number of well-known trademarks like the “
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” tagline, its
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logo, and the
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were ready to be leveraged as “downloadable virtual goods.”“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 which was fully formed in the metaverse,” Benoit Pagotto, one of RTFKT’s co-founders said during the acquisition announcement. Nike’s RTFKT Studios purchase press release concludes that the terms of the sale “will not be disclosed” to the public.
What do you think about Nike acquiring the NFT company RTFKT Studios? Let us know what you think about this subject in the comments section below.