Nike enters metaverse following the acquisition of virtual brand RTFKT

Nike has announced the acquisition of virtual sneakers and collectibles brand RTFKT.

Nike enters metaverse following the acquisition of virtual brand RTFKT

Following the acquisition, Nike becomes the biggest U.S.-based athletic products manufacturer through this partnership to join the metaverse trend.

According to the official announcement by Nike reads that acquiring RTFKT will help the company deliver next-generation collectibles that merge culture and gaming. 

The president and CEO of Nike, John Donahoe believes that the latest acquisition will accelerate Nike’s digital transformation efforts.

“Our plan is to invest in the RTFKT brand, serve and grow their innovative and creative community and extend Nike’s digital footprint and capabilities,” said Donahoe.

Showing support for this vision, RTFKT co-founder Benoit Pagotto said that “we’re excited to grow our brand which was fully formed in the metaverse.”

Earlier, Adidas announced entering the metaverse after partnering with nonfungible token (NFT) companies, including Bored Ape Yacht Club, gmoney NFT and PUNKS Comic.

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