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Industry Talk

Nike acquires virtual shoe company

Redefining the boundaries of physical and digital value.

14th December 2021

Innovation in Textiles
 |  Beaverton, OR, USA

Clothing/​Footwear

Nike has acquired RTFKT, a creator of one of a kind virtual sports shoes and digital artifacts using the latest in game engines, non-fungible tokens (NFTs), blockchain authentication and augmented reality.

For many years, RTFKT was an undefined collective, working strictly in the shadows, providing designs and concepts to game companies and a few select fashion brands and only becoming a company in 2020.

“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 its innovative and creative community and extend Nike’s digital footprint and capabilities.”

RTFKT redefines the boundaries of physical and digital value by creating one of a kind virtual products and experiences.

“This is a unique opportunity to build the RTFKT brand and we are excited to benefit from Nike’s foundational strength and expertise to build the communities we love,” said Benoit Pagotto, one of RTFKT’s co-founders. “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.”

www.nike.com

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