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Nike Announces Acquisition Of Virtual Sneakers And Collectibles Brand RTFKT

Nike, the sportswear manufacturer, has announced the acquisition of virtual sneakers and collectibles brand RTFKT.

It has been reported that Nike becomes the biggest United States-based athletic products manufacturer through this partnership to join the metaverse bandwagon. A report from November 2 highlighted Nike’s submission of requests for patenting its namesake, swoosh logo, and the slogan “just do it” for use online and in online virtual worlds.

However, the filing was accompanied by two new job postings for virtual material designers, signaling the company’s intent to enter the metaverse. The new RTFKT acquisition confirms Nike’s interest in delving into the metaverse ecosystem.

RTFKT stated:

“RTFKT is now a part of the NIKE, Inc. family.” ‍

The report said that according to Nike, acquiring RTFKT will help the company “deliver next-generation collectibles that merge culture and gaming.”

John Donahoe, the President and CEO of Nike, believes that the move helps accelerate Nike’s digital transformation efforts.

He added:

“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.”

Likewise, Benoit Pagotto, the co-founder of RTFKT, said:

“We’re excited to grow our brand which was fully formed in the metaverse.”

On the other hand, Adidas announced entering the metaverse after partnering with nonfungible token (NFT) companies, including Bored Ape Yacht Club, Gmoney NFT, and Punks Comic.

An article on the Adidas mobile app said:

“The Metaverse is where anyone can express their most original ideas and be their most authentic selves, in whatever form they might take. And thanks to the blockchain [and NFTs], those pioneers can own a piece of what they create.”

Thus, Meta, which has recently rebranded itself from Facebook, welcomed Adidas’ entry as it said:

“We can’t wait to see Adidas in the metaverse.”

Source: Cointelegraph




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