Nike Buys Virtual Sneaker Maker RTFKT in Metaverse Push

Nike on Monday said it has bought virtual sneaker company RTFKT for an undisclosed amount, as the sportswear giant seeks to expand its footprint in the fast-growing “metaverse.”

last month, nike Shared became one of the first major brands to enter the virtual world which later rose to prominence Facebook recently rebranded itself meta Platform. In such a blockchain-based environment, users can trade virtual lands and other digital assets such as clothing for avatars in a . can buy as crypto property called a. is called non-fungible token (NFT).

Formed in 2020 by Benoit Pagoto, Chris Lay and Steven Vasiliev, rtfkt According to its website, NFT also makes collectibles and memes. “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,” Nike Chief Executive Officer John Donahoe said in a statement. said.

© Thomson Reuters 2021

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