Nike Acquires NFT Token Studio RTFKT as it Plans Big on The Metaverse
Nike seems set to go all in into the exciting world of the metaverse, with its latest decision to acquire an NFT token studio RTFKT, known for designing virtual sneakers. The company was founded in 2020 and has worked on creating virtual sneaker designs used in online games and in the metaverse too.
RTFKT’s initial focus was on designing virtual sneakers for gaming companies and fashion designers, but it soon transitioned into the world of NFTs a few months later, boasting its own collection of over 560 NFTs. According to its profile on OpenSea – the largest NFT marketplace in the world, it has also worked on at least 1,000 NFTs for others as well.
One of the most successful creations by the NFT token studio was a line of virtual sneakers for CryptoPunks. One of the pieces from this collection sold for 3.2 ETH.
The move by Nike to acquire RTFKT comes a few days after it filed patents for NFT-related technologies. According to the leading sports brand’s President and CEO, John Donahoe, it is another step towards fostering engagement with consumers in the digital space.
For RTFKT, Nike has been one of the biggest inspirations behind starting the firm. Its team has confirmed that will focus on building its brand and image under Nike, following the acquisition.
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