Just did it: Nike enters the metaverse game following RTFKT acquisition

Nike has announced the purchase of RTFKT, a virtual footwear and collectibles company. Nike joins the metaverse bandwagon as the largest U.S.-based sports equipment company as a result of this cooperation.

Nike submitted proposals for patenting the terms — namesake, swoosh logo, and just do it — for use online and in online virtual worlds, according to a report from November 2. Two new job advertisements for virtual material designers accompanied the file, indicating the company’s intention to enter the metaverse.

The latest RTFKT acquisition, on the other hand, demonstrates Nike’s involvement in the metaverse ecosystem:

RTFKT will help Nike “create next-generation collectibles that mix culture and gameplay,” according to the firm. Nike’s president and CEO, John Donahoe, believes the move will help the company’s digital transformation efforts:

“We want to invest in the RTFKT brand, service and build their inventive and creative community, and expand Nike’s digital reach and capabilities,” says the company.

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“We’re delighted to build our brand which was fully created in the metaverse,” RTFKT co-founder Benoit Pagotto remarked, expressing his support for this aim.

Adidas, a German sportswear company, announced its entry into the metaverse after working with a nonfungible token (NFT) startups such as Bored Ape Yacht Club, gmoney NFT, and PUNKS Comic.

According to the report:

“Anyone can express their most original ideas and be their most authentic selves in the Metaverse, in whatever form they may take.” Those pioneers may own a portion of what they build owing to the blockchain [and NFTs].”

“We can’t wait to see Adidas in the metaverse,” Meta, which just renamed itself from Facebook, said of Adidas’ arrival.