On Monday, Nike said it had purchased virtual sneakers company RTFKT for an undisclosed amount, as the sportswear giant wants to rapidly expand its footprint in the burgeoning “metaverse.” fast.
Last month, Nike became one of the first major brands to enter the shared virtual world that became prominent after Facebook recently renamed itself Meta Communication. In such blockchain-based environments, users can purchase virtual land and other digital assets such as clothing for avatars as electronic money property is called token is not replaceable (NFT).
Founded in 2020 by Benoit Pagotto, Chris Le and Steven Vasilev, RTFKT also creates NFT collections and memes, according to its website. “This acquisition is another step that accelerates Nike’s digital transformation and enables us to serve athletes and creators where sport, creativity, game and culture,” Nike CEO John Donahoe said in a statement.
© Thomson Reuters 2021
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