While this is Nike’s first acquisition in the NFT non-fungible tokens (NFTs) are cryptocurrencies that do not possess the property of fungibility. industry, it’s not its first foray into the metaverse. The company has already launched ‘Nikeland’, a virtual world in partnership with Roblox.
Nikeis looking to position itself in the metaverse to become a brand, not only for physical clothing, but also for sports fashion within the virtual world.
The popular brand of clothing and sporting goods has announced this Tuesday the acquisition of RTFKT Studios a company dedicated to the creation of tokens (NFT) and other virtual products. Nike reported the news through acomunicado in which he emphasized that the purchase would allow “expand the digital digital technologies are these electronic tools that have the ability to generate, store or even process data. footprint and capabilities“of the company.
This was stated by John Donahoe, president and CEO ofNikehe added:
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..
Nike acquires NFT company,RTFKT Studios
The agreement withRTFKTis part of the strategy of Niketo secure its place within the growing metaverse industry. The sporting goods manufacturer had been flirting with digital collectibles based onBlockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. from 2019, as revealed by some applications fromNike before the U.S. Patent and Trademark Office. A latest presentation also confirmed the plans.
Founded in 2020,RTFKTis a company that seeks to redefine the boundaries of physical and digital value. The innovative studio offers NFT creations as well as augmented reality products and other virtual world items.Nike described it as “a leading brand that leverages cutting-edge innovation to deliver next-generation collectibles that fuse culture and gamesnone
One of the most successful products of RTFKT has been his tokenized shoes . As reported byBusiness Insiderthe firm signed a partnership with teen artist FEWOCiOUS in February to sell real sneakers paired with virtual sneakers. The partnership sold 600 pairs of NFT shoes in just six minutes, generating more than $3 million in revenue at the time.
Benoit Pagotto, one of RTFKT’s co-founders, noted in the release that the agreement with Nike represents a “new partnership.unique opportunity“This would allow them to consolidate the brand, while allowing them to leverage money that a trader borrows from a brokerage, enabling them to gain far greater exposure to a position than what their capital allows. the strength and experience of the manufacturer to continue to grow.
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 formed entirely in the metaverse.
RTFKT is now a part of the NIKE, Inc. family. ???????????? pic.twitter.com/5egNk9d8wA
– RTFKT Studios (@RTFKTstudios) December 13, 2021
Latest purchase marks the first acquisition deal for a company in the industryBlockchain on the part ofNike. It should be noted that the terms of the acquisition agreement were not disclosed.
Nike is already dabbling in the metaverse a metaverse is a digital universe that contains all the aspects of the real world, such as real-time interactions and economies. It offers a unique experience to end-users. with ” Nikeland”
The news comes just a few weeks after theNike to make its first foray into the metaverse. Last month, the company announced a partnership with the video game platform a place to buy, sell and store cryptocurrency Roblox to create a digital world called ‘ Nikeland ‘ .
“There’s a new place on Roblox for Nike fans to connect, create, share experiences and compete.“said the brand in its presentation deNikelandin November. The virtual world ofNikewhich is free for the time being, includes buildings, fields and terrains for virtual players to compete in games ranging from burnouts to “The Floor Is Lava”.
The company eventually plans to integrate in-game moments that emulate global sporting events, according to a report. CNBC . For example, Nikeland could include a soccer event during the World Cup or a football game during the Super Bowl. Nike added that it will continue to update the virtual world to include athlete and product integration, suggesting that the recent deal with RTFKT could be key to its apparel and other product offerings in that space.
As the metaverse moves into the mainstream, companies such asNike y Adidas are looking to expand their offerings into the digital sphere to connect athletes with their brands amid the booming trend of NFT and virtual products. Matt Friend, CFO ofNike I had already commented on it:
Digital is increasingly becoming part of everyone’s shopping journey, and we are well positioned to achieve our vision of a 40% owned digital business by fiscal 2025.
- Adidas enters metaverse with NFT launch and hints at partnership with The Sandbox
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- Metaverse: Virtual land sales generated more than $100 million last week
Article by Hannah Estefania Perez /DiarioBitcoin
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