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Sports Apparel Giant Nike Acquires Crypto Collectibles Enterprise in Push Towards the Metaverse

Sportswear titan Nike is stepping towards the metaverse as it announces the purchase of a non-fungible token (NFT) studio that creates virtual apparel.

Sports Apparel Giant Nike Acquires Crypto Collectibles Enterprise in Push Towards the Metaverse

“This acquisition is another step that accelerates Nike's digital transformation and allows us to serve athletes and creators at the intersection of sports, creativity, gaming and culture.

We are acquiring a very talented team of creators with an original and connected brand.

Our plan is to invest in the RTFKT brand, serve and grow its innovative and creative communities, and expand Nike's digital footprint and capabilities.”

RTKFT Studios was founded in 2020 and is known for using blockchain technology and augmented reality to create viral sneaker designs, memes and other trendy digital collections, according to its website.

Before its launch last year, the firm was an anonymous collective providing design concepts for fashion brands and video game companies. Rtkft was originally planned to be released in 2040, but due to the growing popularity of the metaverse, it is able to develop today.

The collection firm took to Twitter to tell its 208,000 subscribers the news.

“We will continue to develop our brand, innovations, products and community with Nike resources and capabilities.

Nike is the only brand in the world that we have always been looking forward to and inspired by when launching rtfkt.”

Source : dailyhodl.com