Nike acquires NFT studio RTFKT

In October, according to CNBC, Nike filed trademark applications as part of its preparations to market virtual sneakers and accessories. Now, the footwear and sports accessories giant has acquired a startup known as RTFKT (pronounced “artifact”) that can help the company accelerate its “digital transformation. This news comes in after Nike teamed up with Roblox to create a virtual world called NIKELAND.

RTFKT

RTFKT was established in early 2020 and has since made a name for itself, designing and creating digital arts and NFTs. It calls “Metaverse-ready sneakers and collectibles,” all the digital goods people pay actual money. Now Nike is preparing to fuel the digital future.

RTFKT claims that in February, selling genuine sneakers paired with virtual ones, managed to sell some 600 pairs/NFTs in just six minutes with the collaboration of an artist called FEWOCiOUS. They sold over $3.1 million at that time. At that time, most of us were only hearing about NFTs for the first time. They knew about their goal, and they moved forward. Eventually, they touched the path of success.

Metaverse

As we are all moving towards the new age of the Internet called Metaverse, RTFKT sells metaverse-ready NFTs. According to their official site, they’ve built a vault to give you access to 3D files to use across platforms, which means you can use your avatars in different spaces of the metaverse.

Speaking of the site, their website looks anime-inspired. Thanks to a recent collaboration with Takashi Murakami. The company’s website immediately asks visitors to link their Metamask wallets, which is one of the ways NFT owners can verify their purchases and assets, with the idea that you’ll play games or enter other sorts of VR spaces in the future. In metaverse, your items or assets will materialize and verify the things you own with the help of blockchain.

Blockchain

In a time like this, where blockchain or crypto is the buzzword, and NFT is the center of attraction, big companies like Facebook, Pepsi, Microsoft, and more are investing more and more in these technologies. The latest company to join the squad is Nike. Nike had their eyes on metaverse and digital designs and NFTs for a very long time. They knew they had to step up their game a little bit, and they did it by acquiring RTFKT. 

The Nike company isn’t just buying the digital designer company, but they are buying a vision that can peek into the future. They will use RTFKT for the NFTs, blockchain authentication, and augmented reality to create virtual products and experiences.

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