NIKE BUYS RTFKT STUDIO PLANS TO MOVE FURTHER INTO METAVERSE
The metaverse eco system has been busy in recent weeks with publications and collaborations by different large organizations, Nike acquisition of the RTFKT Non fungible tokens studio NFT brings it a step closer to metaverse. Nike, who made the announcement today that they have acquired the RTFKT studio which is a studio focused on creating digitalized sneaker theme NFT’s and collectibles making use of the Ethereum blockchain technology through a press release.
Nike intends to invest and grow the innovation of the creative brand and its community RTFKT which will extend Nike’s digital footprint, I must say this recent acquisition would bring Nike firmly into the blockchain technology and the metaverse eco system. A few weeks back Nike launch the NIKELAND which is a immersive 3D world in collaboration with Roblox, Roblox who are creators of online gaming platform, they are global and tend to bring people together through gameplay. Nike is not only the shoe and garment firm that has ventured into Non fungible token few weeks back we saw collaboration of adidas with the bored apes creators as they purchase their first bored ape yacht club NFT’s for 46Eth which was about $156,000 at that time.
https://twitter.com/rtfktstudios/status/1470502799498792963?s=21
RTFKT, which was born into the metaverse with a personnel of three(3) stated that they grew up playing games such as Pokémon, Minecraft to name a few which I think was what inspired the movement. In recent years, the trio have collaborated with luxury retail stores in designing their logos, working with hip hop artists in directing their music videos and partnering with other brands to grow their community to its millions.
January 2020 saw the birth of RTFKT, with all these industry experiences they have gathered, they decided to form a company which was born out of gaming and crypto culture, and they tend to build the future of fashion and collectibles. RTFKT, which is widely known for metaverse ready sneakers and collectibles, collaborated with an eighteen (18) year old artist and this partnership sold over $3 million dollars under 7 minutes of digital sneakers. They believe in the potential of the blockchain technology which empowers artists to create and collaborate without restrictions.
The money that will be generated from the sales made the trio intend to invest in the development of non-fungible token (NFTs) utilities through partnerships and projects that will help in advancing the NFT ecosystem and influencing the future of fashion and commerce in the Metaverse.