It’s official: Nike is entering the NFT sector, big time. The sports apparel manufacturer purchased RTFKT which is a virtual shoe business. Nike did not reveal the specifics of the deal. However, the company did state that it is on the forefront of the next generation of collectibles. This acquisition is yet another step to accelerate Nike’s digital transformation. It will allow us to provide services to athletes and creators in the midst of creativity, sport gaming, and culture Nike’s CEO and President John Donahoe said that the company was acquiring an „talented team of creators“ with an „authentic and connected brand.“
Our strategy is to make investments in RTFKT’s brand, invest in the RTFKT brand, support and develop their innovative and creative community, as well as expand the capabilities and footprint of Nike’s online presence. RTFKT will join the Nike collection of brands, which includes Air Jordans and Converse.
RTFKT’s NFT Success
RTFKT has been able to profit from this NFT and Metaverse trends. Particularly RTFKT made headlines in February due to its sales of sneakers that were paired with virtual counterparts. They teamed up with digital artist FEWOCiOUS who created the concept. They sold 600 sneakers/NFTs within just six minutes. The total amount of the auction of the sale was $3.1 million. Bitcoin Digital robot puts your cryptocurrency trading on automation for various cryptocurrencies including but not limited to Bitcoin, Ethereum, Litecoin, Ripple, etc.
In 2021, this company says its existence is „born on the Metaverse,“with a significant amount of virtual and augmented reality participation. Particularly, the company utilized augmented and crypto to enhance its image. In the end, virtual avatars made of RTFKT artifacts are at top of their list. The NTFS are based upon Ethereum, which is the Ethereum blockchain, which stores the documents that prove ownership. The company creates NFTs and cryptos, and also offers Bitski as well as MetaMask electronic wallets.
It was able to profit from the latest technology in the market and earn huge profits and is now in an acquisition agreement with Nike. Particularly, Benoit Pagotto, one of the co-founders at RTFKT, claimed that Nike will help them grow their brand and help them expand within the Metaverse. This is an incredible chance to grow the RTFKT brand, and we’re thrilled to take advantage of Nike’s strength and experience to help us build the communities we cherish.
Adidas Jumps Into NFTs
Similar to that, Addidas announced its metaverse leap in the first week of December. Importantly, the clothing company collaborated with famous NFT projects such as Bored Ape Yacht Club. They also collaborated with influential influencers like punk comic and gmoneyNFT. A tweet from the company’s clothing brand featured the Bored Ape NFT in the famous Adidas tracksuit. This fall, Adidas, known for exploring ideas that are at the cutting edge of creativity, is will be settling at the edge of innovation: the Metaverse. Our aim? to see all its inhabitants flourish.
In the Metaverse is where people can come up with their own unique ideas and express their authentic selves regardless of the form they adopt. With the help of blockchain, and NFTs they can hold their work. develop. The global NFT market could be worth $17.7 billion by the at the end this year. Particularly, due to the growth of Metaverse and NFT technology the boundaries between actual and virtual goods are becoming blurred. So, it’s not surprising that multinational corporations are investing more in Virtual Reality.