Nike enters the metaverse game after acquiring RTFKT

Sportswear maker Nike has announced the acquisition of virtual sneakers and collectibles brand RTFKT. Nike becomes the largest US-based ...



Sportswear maker Nike has announced the acquisition of virtual sneakers and collectibles brand RTFKT. Nike becomes the largest US-based sports goods manufacturer through this partnership to join the metaverse bandwagon.

A Cointelegraph report from November 2 highlighted the filing of patent applications its namesake, swoosh logo and ‘just do it’ slogan for use online and in online virtual worlds. The dossier was accompanied by two new job postings for virtual material designers, signaling the company’s intention to enter the metaverse.

However, the new RTFKT acquisition confirms Nike’s interest in delving into the metaverse ecosystem:

According to at Nike, the acquisition of RTFKT will help the company “deliver next-generation collectibles that merge culture and play.” John Donahoe, President and CEO of Nike, believes the move helps accelerate Nike’s digital transformation efforts:

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

Supporting this vision, RTFKT co-founder Benoit Pagotto said: “We are delighted to grow our brand which was formed entirely in the metaverse. “

Related: Adidas enters the metaverse with NFT partnerships

Across the world, German sportswear maker Adidas has announced its entry into the metaverse after partnering with non-fungible token (NFT) companies including Bored Ape Yacht Club, Gmoney NFT and Punks Comic .

As Cointelegraph pointed out, an article on the Adidas mobile app said:

“The metaverse is the place where everyone can express their most original ideas and be themselves the most authentic, whatever form they may take. And thanks to the blockchain [and NFTs], these pioneers can own some of what they create.

Meta, which recently rebranded itself as Facebook, hailed Adidas entry because it noted, “We can’t wait to see Adidas in the Metaverse.”