Nike Steps Further Into Metaverse by Buying NFT Sneaker Studio
Read the full article here by Jason Nelson
The shoe and apparel giant is expanding its metaverse footprint.
Ready to take its next step into the metaverse, Nike announced today it has acquired RTFKT Studios, a digital art studio focusing on sneaker-themed non-fungible tokens (NFTs) and collectibles using the Ethereum blockchain.
“We’re acquiring a very talented team of creators with an authentic and connected brand,” Nike President and CEO John Donahoe said in a press release. “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.”
This swift move to acquire RTFK keeps Nike in the loop of Web 3 technology and adds them to a list of huge brands having a presence in the metaverse. Helping to merge the virtual and real world using blockchain technology.
In November, the company behind "Just Do It" launched NIKELAND, collaborating with Roblox for an immersive 3D world. That same month, Nike submitted four filing requests to trademark virtual goods with the U.S. Patent and Trademark Office.
“When we first started, we had fun designing sneakers inspired by video games and making dope content and always trying to innovate," wrote RTFKT co-founder Chris Le, who goes by ClegFX on Twitter. "Nike has always been our inspiration. This is the start of a new chapter in the RTFKT story.”
Related: Takashi Murakami and RTFKT Studios Join For an NFT ‘Avatar Project’