The sports giant is acquiring a brand that is "redefining the boundaries of physical and digital value."
The American corporation Nike, the largest manufacturer and seller of sportswear and shoes in the US market, has agreed to take over the NFT studio RTFKT (consonantly - “artifact”), which specializes in creating collectible items for the metaverse.
For Nike, which has repeatedly stated its growing desire to develop in the metasphere and virtual universe, this is the next step in the digital transformation of recent years. The amount of the transaction has not yet been disclosed.
“This is a unique opportunity to grow the RTFKT brand and we are excited to draw on the fundamental strength and expertise of Nike to build the communities we love,” commented RTFKT co-founder Benoît Pagotto in a statement.
According to Nike CEO John Donahue, among the challenges the company is working on at the moment is the development of innovation and the creative community, as well as increasing its own influence in the digital environment.
“We are acquiring a very talented team of creators with an authentic and connected brand. Our plan is to invest in the RTFKT brand, serve and grow its innovative and creative community, and expand Nike's digital presence and capabilities,” Nike said.
The RTFKT studio has been on the market since 2020. Her main projects include creating unique digital items, one-of-a-kind virtual products and experiences using blockchain identity, NTF, the latest game engines and augmented reality.
The company positions itself as a pioneering brand that “redefines the boundaries of physical and digital value to serve a broad community of creators.”
To date, RTFKT is collaborating with one of the most talked about NFT projects of the month, a massive partnership with artist Takashi Murakami called CloneX. In May 2021, the company raised an investment of $8 million. At that time, the RTFKT business was valued at $33.3 million.