Nike Buys Virtual Sneaker Maker RTFKT in Metaverse Push

Nike Buys Virtual Sneaker Maker RTFKT in Metaverse Push


Nike mentioned on Monday it had purchased digital sneaker firm RTFKT for an undisclosed sum, because the sportswear large appears to rapidly broaden its footprint within the fast-growing “metaverse”.

Final month, Nike turned one of many first large manufacturers to enter the shared digital world that gained prominence after Fb not too long ago rebranded itself to Meta Platforms. In such blockchain-based environments, customers should purchase digital land and different digital property comparable to clothes for avatars within the type of a crypto asset referred to as a non-fungible token (NFT).

Fashioned in 2020 by Benoit Pagotto, Chris Le and Steven Vasilev, RTFKT additionally makes NFT collectibles and memes, in accordance with its web site.”This acquisition is one other step that accelerates Nike’s digital transformation and permits us to serve athletes and creators on the intersection of sport, creativity, gaming and tradition,” Nike Chief Government Officer John Donahoe mentioned in a press release.

© Thomson Reuters 2021

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