In this article:
- Nike acquired RTFKT (pronounced “artifact”) to outfit the denizens of the metaverse with virtual sneakers
- What
The rise of the metaverse means virtual stuff sells for real money, and Nike intends to make the most of that opportunity.
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On December 13, Nike announced its acquisition of RFKT, which it described as “a leading brand that leverages cutting edge innovation to deliver next-generation collectibles that merge culture and gaming.”
John Donahoe, President, and CEO of NIKE, Inc. said, “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.”
Benoit Pagotto, one of RTFKT’s co-founders considered it an excellent match due to both brands’ shared values: “Nike is the only brand in the world that shares the deep passion we all have for innovation, creativity, and community, and we’re excited to grow our brand which was fully formed in the metaverse.”
As we saw here last month, Nike created a virtual “Nikeland” within the Roblox online game platform. Now it can expand shopping opportunities on the platform with the digital creations of RTKFT.
The metaverse may not be real in the physical sense but it is offering very real opportunities for brands to connect with customers through new digital channels and to generate very real ROI. And you don’t have to be Nike to play that game.