Multinational footwear giant Nike has just lunged into the metaverse after it acquired NFT collectibles and next gen fashion startup RTFKT Studios.
The takeover announcement was made on Friday by RTFKT on Twitter and seems to be timed just right.
RTFKT is now a part of the NIKE, Inc. family.
pic.twitter.com/5egNk9d8wA
— RTFKT Studios (@RTFKTstudios) December 13, 2021
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With terms of the terms not disclosed, RTFKT’s flagship product is a hybrid NFT/physical shoe collectible inspired by the legendary CryptoPunks NFT collection. Meanwhile Nike has already been looking at blockchain technology since 2019 trying to find the right fit.
On Friday, NFT collectibles and fashion startup RTFKT announced on Twitter that the company had been acquired by Nike. The terms of the deal were not disclosed.
Nike President John Donahoe said in a blog post:
“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.
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.”
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Source: Igaming
