Nike Acquires Virtual Sneaker Creator RTFKT as It Pushes Deeper Into the Metaverse

Nike Inc. said late today that it has acquired RTFKT, a digital creator of virtual sneakers, collectibles and accessories. The terms of the deal were not disclosed. The move builds upon Nike’s goal to expand its influence in the metaverse via virtual sneakers. Earlier this year, Nike filed seven trademark applications related to its goal to create and sell virtual sneakers and apparel. It also partnered with the Roblox video game platform to launch “Nikeland,” a digital world for Nike fans to play games, connect, and dress their avatars in virtual apparel via a digital showroom, which includes products like the Air Force 1 and Nike Blazer. “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 Nike CEO and president John Donahoe in a statement. “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.” Nike was previously rumored to be a prime candidate to dip its toes in the world of NFTs, or non-fungible tokens that

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