Nike acquires NFT studio RTFKT

Nike has acquired the NFT studio RTFKT, which specialises in creating collectibles for metaverses.

Welcome to the family @RTFKTstudios

Learn more: https://t.co/IerLQ6CG6o pic.twitter.com/I0qmSWWxi0

— Nike (@Nike) December 13, 2021

“This acquisition is another step, accelerating Nike’s digital transformation and enabling the company to serve athletes and creators at the intersection of sport, creativity, gaming and culture,” said Nike’s chief executive John Donahoe.

According to him, Nike’s aim is to develop an ‘innovative and creative community’, as well as to broaden the company’s digital presence and capabilities. Terms of the deal were not disclosed.

In early May RTFKT raised $8 million in a seed round. It was led by venture firm Andreessen Horowitz. Financing also came from Galaxy Digital, Ledger, and Dapper Labs CEO Roham Gharegozlou, among others.

The studio rose to prominence after creating a digital collection of athletic sneakers. Co-founder Chris Lee said that Nike “has always been an inspiration” for the startup’s team.

Earlier in December Adidas announced a collaboration with NFT projects Bored Ape Yacht Club, GMoney and PunksComic in the metaverse.

Earlier the company announced a collaboration with cryptocurrency exchange Coinbase and acquired land from The Sandbox project.

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