Earlier this week, world-renowned shoemaker Nike announced the acquisition of RTFKT, a company that makes NFT sneakers and collectibles that blend fashion and gaming realities.
Founded in 2020 by Benoit Pagotto, Chris Le, and Steven Vasilev, RTFKT redefines the boundaries between physical and digital value to benefit their diverse community of creators.
The company uses the latest game engines, NFTs, blockchain technologies, and augmented reality technologies to create unique virtual products.
It appears the acquisition is a perfect match. With its flagship product, a hybrid NFT/physical footwear collectible modeled after the renowned CryptoPunks collection, RTFKT gained attention last spring, when a digital footwear collaboration with non-fungible token artist FEWOCiOUS sold $3.1 million in metaverse kicks.
RTFKT is now a part of the NIKE, Inc. family. 🌐👁🗨 pic.twitter.com/5egNk9d8wA— RTFKT Studios (@RTFKTstudios) December 13, 2021
“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,” says John Donahoe, CEO of NIKE.
“This is a unique opportunity to build the RTFKT brand and we are excited to benefit from Nike’s foundational strength and expertise to build the communities we love,” says Benoit Pagotto, one of RTFKT’s co-founders.