Nike acquires NFT sneaker maker RTFKT Studios

Nike has acquired RTFKT Studios, a maker of non-fungible tokens (NFTs), in the apparel giant’s latest move into the metaverse.

RTFKT focuses on creating sneaker tokens and collectibles using the Ethereum blockchain, making it an appealing acquisition target for Nike.

Nike president and CEO John Danahoe said the move is just one of many to come as the company seeks to establish its place in the metaverse.

“We’re acquiring a very talented team of creators with an authentic and connected brand”, Danahoe added.

His company’s plan for the future is to extend its current digital foothold, tapping into new assets as well as helping RTFKT grow and innovate as part of that journey.

Commenting on this development, RTFKT co-founder Chris Le said that the collaboration was tantamount to a new chapter in the two companies’ future. “Making dope content and always trying to innovate” is precisely what RTFKT has been all about”, he said.

The move is important, because it establishes Nike’s appetite for a bigger share of the metaverse, a trend that was spearheaded by solutions such as Decentraland, Axie Infinity and Meta, but is now the focus of various corporate and investment appetites.

Nike is a new entity in the metaverse, but it has been quickly building its presence, using a mix of partners and technologies. The company recently teamed up with Roblox to launch NIKELAND, a virtual world that the company expects would attract many of the company’s loyal followers, and more.

Nike has been aggressively filing trademark requests with the US Patent and Trademark Office and is not the only apparel giant that is doing this right now.

Adidas, the company’s main competitor, sent a bold statement by snapping up a Bored Ape Yacht Club NFT for 46 Ethereum. With this in mind, it’s safe to say that Adidas may be more focused on NFTs as of right now.

If you are not too keen on the metaverse, you may want to continue to explore some excellent traditional gaming options such as Bitcasino, 1xBit or FortuneJack.

Looking for your next crypto casino? Check out: Mega Dice or FortuneJack

Written by Barney

Co-founder

Barney is co-founder of CryptoGamblingNews.com. When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.

Similar News