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Nike Acquires Non-Fungible Sneaker Studio RTFKT

Nike Acquires Non-Fungible Sneaker Studio RTFKT

The iconic sneaker company has taken yet one other step into the Metaverse.

Key Takeaways

  • Nike has obtained RTFKT, a non-fungible token studio with a series that involves virtual sneaker collectibles.
  • In maintaining with OpenSea, RTFKT has 561 NFTs in its safe series and has created no longer much less than 1000 others.
  • It is miles unclear whether the acquisition is associated to moderately a pair of NFT and crypto-associated patents filed by Nike closing month.

Nike launched on the present time that it has obtained RTFKT, a virtual sneaker construct company and a studio for non-fungible tokens.

Nike Acquires RTFKT

RTFKT was primarily based in 2020 to designate virtual sneaker designs to be used in on-line games and, now, the Metaverse. The crew provided designs for sport companies and vogue designers sooner than entering into NFT (or “cryptocollectible”) designs closing one year.

The crew’s OpenSea page says that RTFKT has 561 NFTs in its safe series and has created no longer much less than 1000 others. Its most distinguished series is a line of virtual sneakers designed around CryptoPunks, one amongst which provided for 3.2 ETH (over $12,000) on the present time.

Nike President and CEO John Donahoe wrote that the acquisition is a component of the corporate’s makes an are attempting to determine with digital tradition. He added that Nike will be triumphant in a “talented physique of workers of creators with an official and linked stamp” in the course of the acquisition.

RTFKT wrote that “NIKE is the handiest stamp on the planet we consistently regarded up to and obtained inspired by when starting up RTFKT.” It also outlined that this would possibly perchance occasionally continue to create bigger its stamp and image under Nike.

Nike Filed Patents Remaining Month

In November, Nike filed patents for applied sciences that regarded to be associated to non-fungible tokens. It also began to work on one other NFT project known as “CryptoKicks” in December 2019. It is miles unclear whether on the present time’s files is associated to these other efforts.

Nonetheless, the timing of the records—mixed with each crew’s intently aligned wishes—means that RTFKT plans to create a pair of of Nike’s most popular patents into a actuality.

Nike is correct one amongst several major companies with its eyes on NFTs. Others include its competitor Adidas, to boot to extra some distance away companies esteem Ubisoft, Facebook, Time Journal, and Visa.

Disclosure: On the time of writing, the author of this portion owned BTC, ETH, and other cryptocurrencies.

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