Nike acquires virtual sneakers and crypto collectibles startup RTFKT

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In October, Nike filed trademark applications as part of its preparations to sell sneakers and virtual clothing, according to CNBC. Today, the footwear and sportswear giant has acquired a startup called RTFKT (pronounced “artefact”) that will help the company accelerate its “digital transformation”. RTFKT was founded in early 2020 and has since made a name for itself designing and creating what it calls “Metaverse-ready sneakers and collectibles” – all the digital goods that people pay money for. very real money.

The virtual goods market is booming and is expected to continue to grow as we move towards the metaverse, the future vision of the internet in which people can interact in a virtual world with digital avatars. To that end, Nike appears to have big plans for RTFKT and his team, which will join the company. John Donahoe, President and CEO of Nike, said, “We are in the process of acquiring a very talented design team 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 technology. footprint and capabilities. ”On Twitter, the startup said it“ will continue to evolve [its] the brand, innovations, products and community with the resources and talents of Nike. “

Earlier this year, RTFKT teamed up with 18-year-old artist Fewocious to release three NFT sneakers for $ 3,000, $ 5,000 and $ 10,000. In just seven minutes, over 600 people purchased their own virtual pairs for a total of US $ 3.1 million. Most recently, the startup showcased their avatar-like project called CloneX, a joint effort with Japanese artist Takashi Murakami. RTFKT calls CloneX “the most ambitious project to date” because it marks the start of an ecosystem for its Metaverse compatible avatars.

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