Nike’s Metaverse Bid Could Propel Momentum in 2022, Analyst Says

2021 was a year of ups and downs for Nike. But some analysts are maintaining confidence for the Swoosh in 2022. In a recent 2022 outlook from Guggenheim, analyst Robert Drbul named Nike as the “Best Idea” across coverage, citing the company’s strong market share, product innovation, and recent foray into the metaverse. “We note Nike’s engagement in the metaverse and will be watching closely as Nike’s digital strategy continues to evolve,” Drbul wrote. Last month, Nike acquired RTFKT, a digital creator of virtual sneakers, collectibles and accessories, in a bid to expand its influence in the metaverse. In the wake of the deal, Stifel analysts said the acquisition had “strategic value” to help “expedite the expansion into Nike’s potential NFT offerings.” The move built 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. Nike is also looking

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