Nike Acquires Fashion and Sneaker NFT Site RTFKT

The company has done notable collaborations with Takashi Murakami, Jeff Staple, Lexus and more.

Footwear 
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Nike Inc. announced on Monday that it has acquired digital sneaker and fashion collectibles site RTFKT.

The site, founded in January 2020 by Benoit Pagotto, Chris Le and Steven Vasilev, is known for creating virtual sneaker designs and exclusive collectibles minted as NFTs. The company has done notable collaborations with Takashi Murakami, Jeff Staple, Lexus and more, and earlier this year sold $3.1 million USD in virtual sneaker designs.

 

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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, gaming and culture,” said John Donahoe, president and CEO of Nike. “We’re acquiring a very talented team of creators with an authentic and connected brand. 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 terms of the deal have not been disclosed.

Nike Inc. also owns footwear brand Converse and acquired New York-based data integration and machine learning technology company Datalogue earlier this year.

In other news, check out the Nike Dunk Low “University Red” in sustainable form.

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