Nike acquires footwear company NFT, officially joining the metaverse

Nike acquires footwear company NFT, officially joining the metaverse

Dan Tree

To keep pace with the metaverse, Nike acquired footwear company NFT, which specializes in developing digital products.

Recently, Nike – a world famous sneaker company – acquired RTFKT – a company that specializes in developing digital footwear using NFT. However, the value of the deal was not disclosed, but it partly showed Nike’s determination to join the virtual space race.

RTFKT was founded in 2020 by Benoit Pagotto, Chris Le and Steven Vasilev. At the moment, the company has launched groups and memes.

Footwear company NFT has been acquired by Nike, officially entering the virtual world (Artwork: Cointelegraph).

Last month, Nike also entered the metaverse with the launch of a virtual world that simulated the company’s headquarters in the game Roblox Corp. This space is called Nikeland, which allows users to use Nike products and costumes for the characters.

In the metaverse, players can purchase virtual land, digital assets, and clothing for their characters using a unique non-fungible cryptocurrency known as NFT (Non-Exchangeable Token).

“The acquisition of RTFKT accelerates Nike’s digital transformation. At the same time, the company can also expand its offering to other brands, athletes and innovators at the intersection of sports, culture and creativity,” Nike CEO John Donahoe said in a statement.

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