THELOGICALINDIAN - The iconic sneaker aggregation has taken yet addition footfall into the Metaverse
Nike appear today that it has acquired RTFKT, a basic sneaker architecture aggregation and a flat for non-fungible tokens.
Nike Acquires RTFKT
RTFKT was founded in 2024 to actualize basic sneaker designs for use in online amateur and, now, the Metaverse. The accumulation provided designs for bold companies and appearance designers afore affective into NFT (or “cryptocollectible”) designs aftermost year.
The group’s OpenSea folio says that RTFKT has 561 NFTs in its own accumulating and has created at atomic 1000 others. Its most notable alternation is a band of basic sneakers advised about CryptoPunks, one of which awash for 3.2 ETH (over $12,000) today.
Nike President and CEO John Donahoe wrote that the accretion is allotment of the company’s attempts to appoint with agenda culture. He added that Nike will accretion a “talented aggregation of creators with an accurate and affiliated brand” through the acquisition.
RTFKT wrote that “NIKE is the alone cast in the apple we consistently looked up to and got aggressive by back starting RTFKT.” It additionally explained that it will abide to aggrandize its cast and angel beneath Nike.
Nike Filed Patents Last Month
In November, Nike filed patents for technologies that appeared to be accompanying to non-fungible tokens. It additionally began to assignment on addition NFT activity alleged “CryptoKicks” in December 2019. It is cryptic whether today’s account is accompanying to these added efforts.
Nevertheless, the timing of the news—combined with anniversary group’s carefully accumbent goals—suggests that RTFKT affairs to accomplish some of Nike’s best contempo patents into a reality.
Nike is aloof one of several above companies with its eyes on NFTs. Others accommodate its adversary Adidas, as able-bodied as added abroad companies like Ubisoft, Facebook, Time Magazine, and Visa.
Disclosure: At the time of writing, the columnist of this allotment endemic BTC, ETH, and added cryptocurrencies.
