Nike completes the acquisition of NFT Studio RTFKT which creates shoes for Metaverse

Sportswear giant Nike is taking a big step into the world of NFT (non-fungible token) after acquiring digital fashion startup RTKFT (pronounced as artifact). This decision will lead to more creations of virtual collectibles for the metaverse space.

Nike acquires RTFKT to expand its NFT business

HypeBeast recently reported that the multinational footwear company announced the acquisition of digital sneaker collection site RTFKT. The popular startup has become widely known for its exclusive NFT sneakers.

Steven Vasilev, Chris Le and Benoit Pagotto founded RTFKT in January 2020. So far, the digital startup has already collaborated with Lexus, Takashi Murakami, Jeff Staple and more popular personalities and companies.

RTFKT is now part of the NIKE, Inc .. family ?? pic.twitter.com/5egNk9d8wA

– RTFKT Studios (@RTFKTstudios) December 13, 2021

In March, RTFKT managed to sell virtual sneaker models for $ 3.1 million in collaboration with tartist NFT FEWOCiOUS.

Meanwhile, Nike plunged into the blockchain space as early as 2019. Now it continues its adventure to further explore token collectibles like sneakers and other footwear.

“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, games and culture,” said John Donahoe, president of Nike in his blog post.

Donahoe added that the company has included a group of talented designers under RTKFT, which will help them expand Nike’s service in NFT digital innovation.

In April, Cryptokickers signed their first NFT shoes as part of a deal with former NBA player Wilson Chandler, who last played for the Brooklyn Nets in 2020, according to Corner office.

Related article: Working Meetings in the Metaverse? – Bill Gates Predicts Virtual Meetings Will Go Metaverse In 2-3 Years

Adidas embarks on the Metaverse project

Earlier this month, Tech Times reported that the footwear industry is expanding its services to reach more NFT-related offerings. One of Nike’s rivals, Adidas, is one of the latest shoe brands to explore digital tokens.

According to the tech site, the German company has partnered with leading NFT brands including Bored Ape Yacht Club and Punks Comic. On Twitter, the sportswear giant added that the partnership also included metaverse investor Gmoney.

Around this time, the report wrote that Adidas was purchasing a BAYC # 8774 NFT for $ 156.00, which was equivalent to 46 ETH at the time. The company’s official Twitter account changed its profile picture after the transaction.

In total, Adidas could have already bought 13 NFT BAYCs from different sellers. It’s possible that he also owned “The Hunt for the Lost Robbies” from Punks Comics, which was sold for 6.95 ETH.

Metaverse World

In another report, Meta opened up the “Horizon Worlds” metaverse to the public. According to Tech Times, the company has published the “phased launch” of this application which has specific requirements.

Facebook said it is currently only available to residents of Canada and the United States, but plans to expand it to other countries in the future.

The company also mentioned that the user must be 18 and over. He / she should also have an Oculus Quest VR gadget to access the Metaverse. For now, you can access it for free.

Read also: NFT “Birth of Wikipedia” auction listing underway at Christie’s | The computer that created the Internet encyclopedia

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Written by Joseph Henry

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