Nike Gets Serious About NFTs - Buys RTFKT Studio
Nike announced yesterday that it had bought Fashion and Sneaker NFT Site RTFKT. This serves as a massive move for The Swoosh as they get serious about NFTs, the meta verse and Web 3.0. While the amount that Nike bought RTFKT for is still not known by the public, one can assume it wasn't small amount due to the potential brands see in the NFT world.
The site, founded in January 2020 by Benoit Pagotto, Chris Le and Steven Vasilev, is known for creating virtual sneaker designs and exclusive collectables minted as NFTs. The company has done notable collaborations with Takashi Murakami, Jeff Staple, Lexus and more, and earlier this year sold around R49 Million ($3.1 million) in virtual sneaker designs. They are a leading brand that leverages cutting edge innovation to deliver next generation collectibles that merge culture and gaming.
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. “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.”
Stay tuned for what RTFKT Studio and Nike have up their sleeves for the future!