Nike Brings Us Closer To The Future Of Sneakers By Buying RTFKT

Are you weary of hearing about blockchains, non-fungible tokens, and the metaverse? So far, we've only scratched the surface. The fashion and shoe industries have been dipping their toes into the world of cryptocurrency for the past twelve months. Nike has just jumped head first into the world of NFTs by acquiring RTFKT - one of the world's largest digital sneaker firms - a subject that seems to be growing in popularity by the thousandfold every single day.

RTFKT (pronounced artifact) was founded a year ago by Benoit Pagotto, Chris Le, and Steven Vasilev. With that stated, the brand has been making waves in the metaverse with its virtual footwear launches, even partnering on a few projects with industry heavyweights like Jeff Staple and Takashi Murakami. They've become so successful that they've sold over $3.1 million in designs in 2021 alone.

"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 John Donahoe, President and CEO of Nike. "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."

It's incredible to think that we only wrote this piece a few months ago and that the solution has already been proven. Almost nothing else is known about this newly formed partnership at this time, but more will be disclosed very shortly. Whether you like digital sneakers or not, there's no denying that Nike and RTFKT are working on something big, and we'll be the first to let you know what it is. While you're here, have a look at some of the fashion brands that are experimenting with NFTs and the metaverse!

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