Sportswear brand Nike has announced its acquisition of RTFKT, a digital design studio producing trainers and other collectibles that can be worn across different online environments.
Buying RTFKT could help Nike ramp up its own production of virtual wearables without having to rely on outside help. RTFKT's products include neon-coloured platforms that it created with The Fabricant.
At the same time, Nike is hoping to provide the start-up with the funding to further explore the possibilities presented by the metaverse, the emerging digital universe where people can experience a parallel life to their real-world existence.
Top image: RTFKT joins Jordan and Converse in Nike's stable of brands. Above: virtual trainers created with The Fabricant
"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 Nike CEO and president John Donahoe. "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."
The companies did not disclose the terms of the deal.
RTFKT, which was founded by Benoit Pagotto, Chris Le and Steven Vasilev in January 2020, creates "metaverse-ready sneakers and collectibles" with the aim of bringing the scarcity culture of streetwear and limited-edition drops to the digital world.

 

View this p...