The global footwear and sporting brand, Nike, has acquired the virtual sneaker and fashion platform, RTFKT. The startup deploys cutting-edge tech to deliver next-generation collectibles in a bid to amalgamate culture and gaming.
“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 John Donahoe, President and CEO of NIKE, Inc.
“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.”
RTFKT was founded in 2020 by Benoit Pagotto, Chris Le, and Steven Vasilev. The company aims to redefine the boundaries of physical and digital value to help its thriving community of creators. The team creates one-of-a-kind virtual products and experiences using the latest in game engines, NFTs, blockchain authentication, and augmented reality.
“This is a unique opportunity to build the RTFKT brand, and we are excited to benefit from Nike’s foundational strength and expertise to build the communities we love,” said Benoit Pagotto, one of RTFKT’s co-founders.
“Nike is the only brand in the world that shares the deep passion we all have for innovation, creativity, and community, and we’re excited to grow our brand which was fully formed in the metaverse.”
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