Nike has acquired RTFKT (pronounced as “artifact”), a company that makes NFTs and virtual shoes for the metaverse. Co-founded by Benoit Pagotto, Chris Lee, and Steven Vasilev just last year in 2020, RTFKT uses NFT, blockchain, and augmented reality technology to create digital artifacts such as viral sneaker designs.

Zoom In: In February, the company partnered with artist FEWOCiOUS to sell real sneakers paired with virtual ones and sold 600 pairs/NFTs in six minutes, netting $3.1 million in revenue. RTFKT also collaborates with NFT projects like CryptoPunks and Bored Apes to design items like physical shoes inspired by the NFT projects.

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. - John Donahoe, President and CEO of Nike
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