Nike Acquires Fashion And Sneaker NFT Site RTFKT
Nike has acquired digital sneaker and fashion collectibles site, RTFKT.
“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,” said John Donahoe, president and CEO of Nike.
RTFKT leverages the latest in-game engines, NFTs, blockchain authentication and augmented reality to create one-of-a-kind virtual products and experiences.
“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 was founded in 2020 by Benoit Pagotto, Chris Le and Steven Vasilev with a mission to redefine the boundaries between physical and digital and serve the broader community of creators better.
“This is a unique opportunity to build the RTFKT brand and we are excited to benefit from Nike’s foundational strength and expertise to build the communities we love,” said Benoit Pagotto, one of RTFKT’s co-founders.
“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.”
The move to acquire RTFKT follows Nike’s recent foray into the metaverse. Sportswear giant, Adidas, also recently ventured into the metaverse with a collaboration with Bored Ape Yacht Club, Pixel Vault’s Punks Comic and crypto investor gmoney.
The terms of the deal were not disclosed.
Originally published at https://retailbum.com on December 14, 2021.
