Nike to Sell Virtual Sneakers in the Metaverse
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Nike announced that it has bought virtual sneaker company RTFKT on Monday for an undisclosed fee
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The sportswear company is set to extend its clothing line into the fast-growing metaverse
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Last month, it became the first major brand to enter the metaverse, and has signaled its intent to serve athletes and creators in this space
On Monday, December 13th, Nike announced that it had acquired virtual sneaker company RTFKT for an undisclosed sum.
The move signals the sportswear giant’s intent to expand its business into the growing virtual reality space “metaverse”.
Last month, Nike (NKE) became one of the first big brands to make a move into the virtual metaverse, which recently became a trending topic after Facebook rebranded to Meta.
In the virtual world, users can buy virtual items and digital assets for their avatars in the form of non-fungible tokens (NFT).
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The acquired company RTFKT was recently founded in 2020 by Benoit Pagotto, Chris Le, and Steven Vasilev.
Asides from the sale of virtual sneakers, RTFKT also makes NFT collectibles and memes, according to details from its website.
Nike Chief Executive Officer John Donahoe announced the purchase in a statement that reads:
“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,”
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