Nike Has Acquired a Well-Known Fashion NFT Startup RTFKT

Nike Has Acquired a Well-Known Fashion NFT Startup RTFKT

On their official Twitter account on Friday, the NFT-centered startup RTFKT announced that it is now part of the Nike family. There was no additional information given on the details of this acquisition as of writing this news post.

RTKFT is known for offering a hybrid collection of both physical and NFT-based shoes, designed by taking inspiration from the industry-staple CryptoPunks NFT collection.

This acquisition makes Nike part of the growing number of influential, global brands that are entering the metaverse. This type of symbiotics between physical products and those of the digital kind is the latest trend that the industry is experiencing.

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John Donahoe, the president of Nike, had this to say about the RTFKT situation:

“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. <...> 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.”

The metaverse sector has been expanding rapidly, and with such news from Nike, complemented with that from Facebook (launching its own metaverse project), the ambitions from investors are high.

Aaron S. -  Expert Reviewer

by Aaron S. - Expert Reviewer, BitDegree


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