Nike Buys Creator Of Collectible NFT For The Metaverse

The company says the acquisition of RTFKT is Nike next step towards digital transformation.

Nike has announced the purchase of RTFKT, an NFT studio that creates collectibles for the metaverse. The company noted that this deal is another step in Nike’s digital transformation. The terms of the deal remain unknown.

Welcome to the family @RTFKTstudios

Learn more: https://t.co/IerLQ6CG6o pic.twitter.com/I0qmSWWxi0

— Nike (@Nike) December 13, 2021

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Nike CEO John Donahue said the company now faces the challenge of fostering an innovative and creative community and expanding its digital presence.

RTFKT Studio was founded in 2020 by Benoit Pagotto, Chris Le and Steven Vasilev. The company works with the latest game engines and blockchain to create unique virtual items.

RTFKT is now a part of the NIKE, Inc. family. 🌐👁‍🗨 pic.twitter.com/5egNk9d8wA

— RTFKT Studios (@RTFKTstudios) December 13, 2021

In late November, sportswear maker Adidas announced a partnership with the first public cryptocurrency exchange, Coinbase, as well as hinted at launching its own metaverse.