Nike buys virtual shoe maker with an eye on metaverse sales

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Nike said on Monday that it had bought virtual tennis company RTFKT for an undisclosed amount as the sportswear giant plans to quickly expand its presence in the growing metaverse.

Last month, Nike became one of the first big brands to enter the shared virtual world that rose to prominence after Facebook recently renamed itself to Meta Platforms.

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In these blockchain-based environments, users can purchase virtual land and other digital assets, such as avatar clothing, in the form of a cryptographic asset called a non-fungible token (NFT).

Formed in 2020 by Benoit Pagotto, Chris Le and Steven Vasilev, RTFKT also makes collectibles and NFT memes, according to their website.

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“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, games and culture,” Nike CEO John Donahoe said in a statement.

*(Translated text. Click here to read the original, in English)

Reference: CNN Brasil

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