Nike announced its purchase of RTFKT Studios, the digital collectible company, on December 13.
This follows Nike’s initial steps toward the metaverse during the first week of November and the company’s recent integration with the virtual game Roblox. On November 12, the footwear firm published a blog post about “Nikeland,” a Nike-themed virtual world located in the Roblox metaverse. Also, previously Adidas revealed it was also planning to integrate its digital collectibles with the Roblox metaverse. Earlier this month, Adidas formed three Metaverse-related partnerships with Punks Comic, GMoney, and Bored Ape Yacht Club.
RTFKT Studios was founded by three friends in January 2020, according to their website. They’re focused on non-fungible token technology, blockchain authentication, and augmented reality (AR). In February, RTFKT and an NFT artist nicknamed “Fewocious” sold about 600 pairs of physical and virtual sneaker NFTs for $3.1 million at the time of settlement. RTFKT is also behind the Clonex NFT avatar project. Clonex NFTs allow you to leverage NFTs in both the physical world and the metaverse realm. Murakami designed the NFTs, and they sold out quickly according to reports.
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.”