Nike takes a step further into the virtual world by acquiring RTFKT, the leading brand “born in the metaverse”.
RTFKT, founded in 2019, offers a new vision for the future of fashion, especially sneakers, and identity in the metaverse.
RTFKT uses blockchain, augmented reality and generative AI to offer collectibles and fashion items, which can be used in video games or virtual worlds.
The items offered by RTFKT are sold in limited edition, in the form of NFT (“non fungible tokens”), and can sometimes also be produced physically. RTFKT thus redefines the boundaries between physical and numerical values.
Some analysts compare the success of RTFKT to that of the Supreme brand. Since its creation, RTFKT has developed an extensive and very active community of creators and young designers, as well as than collectors.
“We are acquiring a very talented creative team with an authentic and connected brand. Our plan is to invest in the RTFKT brand, to serve and develop their
innovative and creative community and to expand Nike’s digital footprint and capabilities,” CEO John Donahoe said in a statement.
This acquisition is part of the current trend of establishing brands in the virtual world. Adidas, for example, recently launched into the metaverse in collaboration with Bored Ape Yacht Club.
Erwann del Do (partner) of Harlay Avocats, having developed sector expertise in the field of NFTs, advised RTFKT and its founders.
Harlay Avocats is able to offer “full service” support for project leaders and technical service providers in this sector.