Nike Makes a Major Metaverse Move by Officially Acquiring RTFKT

It seems there’s no escaping the Metaverse as blossoming partnerships surrounding the newfound digital dimension are announced with each passing day. For some of the biggest Metaverse news yet, Nike announces that they have officially acquired RTFKT.

As one of the leading brands in the Metaverse realm, RTFKT delivers modern collectibles, better known as NFTs. The company was founded just last year in 2020, showing how fast the turnaround time for the Metaverse expansion has been. Founders Benoit Pagotto, Chris Le, and Steven Vasilev created RTFKT to leverage the latest in-game engines, NFTs, blockchain authentication and augmented reality to create immersive virtual experiences. 

The terms of the deal have not been disclosed, but John Donahue, President and CEO of Nike, speaks on RTFKT saying, “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. 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.”

This news comes shortly after Nike filed paperwork with the U.S. Patent and Trademark Office to protect their iconic logos in the virtual world, back in October 2021. Since then, Nike launched their first Metaverse venture, NIKELAND in Roblox.

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