Footwear

Nike Announces RTFKT Acquisition, a Fashion and Sneaker NFT Site

With the aim to expand its digital footprint and capabilities.

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4,517 Hypes

Nike Announces RTFKT Acquisition, a Fashion and Sneaker NFT Site

With the aim to expand its digital footprint and capabilities.

Nike has officially acquired sneaker and fashion NFT collectibles studio RTFKT, which focuses on merging realities in style and gaming.

“This acquisition is another step that accelerates Nike’s digital transformation and allows us to serve athletes and creators at the intersection of sport, creativity, gaming and culture,” said John Donahoe, president and CEO of Nike, Inc., in a press release. “We’re 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 their innovative and creative community and extend Nike’s digital footprint and capabilities.”

Founded in 2020 by Benoit Pagotto, Chris Le and Steven Vasilev, RTFKT has been redefining the concept of the physical and digital worlds. Earlier this year, the site sold $3.1 million USD in virtual sneakers, as well as unveiled collaborations with Takashi Murakami, Jeff Staple, Lexus and more. “Nike is the only brand in the world that shares the deep passion we all have for innovation, creativity and community, and we’re excited to grow our brand which was fully formed in the metaverse,” Pagotto shared.

The terms of the deal will not be disclosed by Nike. However, be sure to keep a look out for any of its NFT drops in 2022.

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