Nike, Inc. Acquires RTFKT, Merging Culture and Gaming

Nike, Inc. continues to evolve within the metaverse as the brand has announced the acquisition of RTFKT, a leading brand that “leverages cutting-edge innovation to deliver next generation collectibles that merge culture and gaming,” according to the press release.

“This acquisition is another step that accelerates Nikeâ€s digital transformation and allows us to serve athletes and creators at the intersection of sport, creativity, gaming, and culture,” John Donahoe, President & CEO of Nike, Inc. said “Weâ€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 Nikeâ€s digital footprint and capabilities.”

RTFKT was founded in 2020 by Benoit Pagotto, Chris Le, and Steven Vasilev, and is a pioneering and innovative brand that redefines the boundaries of physical and digital value to serve its broad community of creators. The brand is known for leading the way in the latest in-game engines, NFTs, blockchain authentication, and augmented reality to create one-of-a-kind virtual products and experiences.

“This is a unique opportunity to build the RTFKT brand and we are excited to benefit from Nikeâ€s foundational strength and expertise to build the communities we love,” says Benoit Pagotto, one of RTFKTâ€s co-founders. “Nike is the only brand in the world that shares the deep passion we all have for innovation, creativity, and community, and weâ€re excited to grow our brand which was fully formed in the metaverse.”

This is the latest development in the Swoosh’s role in the metaverse, following its Roblox announcement as well as its NIKELAND trademark.

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