Home News Nike acquired RTFKT’s NFT studio

Nike acquired RTFKT’s NFT studio

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Nike, Inc. has acquired non-fungible token (NFT) studio RTFKT, specializing in the creation of collectibles for the metaverse.

“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 President and Chief Executive Officer of Nike, John Donahue.

Thus, according to him, Nike’s goal is to develop an “innovative and creative community”. As well as expand the company’s digital presence and capabilities. Moreover, the terms of the transaction were not disclosed.

Brand that pushes the boundaries of physical and digital value

In May, RTFKT raised $8 million in a seed round. The venture capital firm Andreessen Horowitz led the round. Galaxy Digital, Ledger, Dapper Labs CEO Roham Gharegozlou and others also provided funding.

Chris Le, Benoit Pagotto, and Steven Vasilev founded RTFKT in 2020. The NFT studio is a trailblazing and innovative brand that pushes the boundaries of physical and digital value to serve its diverse community of creators. This committed team uses cutting-edge game engines, NFTs, blockchain authentication, and augmented reality to create one-of-a-kind virtual products and experiences.

Furthermore, the studio gained particular popularity after creating a digital collection of sports sneakers. RTFKT co-founder Chris Le noted that Nike “has always been a source of inspiration” for the startup team.

Adidas collaborated with Bored Ape Yacht Club, GMoney and PunksComic

In early December, Adidas announced a collaboration with the NFT projects Bored Ape Yacht Club, GMoney and PunksComic within the metaverse. In addition, the company changed its Twitter profile photo to an image of a themed monkey from the BASIC collection.

Earlier in November, Adidas announced cooperation with the Bitcoin exchange Coinbase; and acquired a plot of land from The Sandbox project. Against the background of this news, the cost of the native SAND token has increased by 14.4% over this day, according to CoinGecko.

Recall that The Sandbox gaming blockchain platform announced the partial launch of its metaverse for a limited number of users on November 29, 2021. Users may monetize their time spent in the Metaverse by playing to earn in Sandbox’s virtual game area. Within the game, players may buy land and build NFTs, as well as complete objectives to earn the Sandbox token (SAND). They may also use the token as a kind of investment.

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