Nike acquires virtual shoe and NFT maker, RTFKT
Nike has announced that the acquisition of RTFKT, a leading brand that merges culture and gaming, on their website. RTFKT is a company that creates virtual shoes and NFTs (non-fungible tokens) for the gaming industry.
With this acquisition, Nike looks to expand their customer base to include gamers and digital content creators. The RTFKT team will continue to work on developing new products and services for Nike, with an aim to incorporate the RTFKT shoe 3D scanning technology into their products.
What is RTFKT?
RTFKT was founded in 2020 by Benoit Pagotto, Chris Le and Steven Vasilev. Their main product is a virtual shoe that can be used during workouts or just for fun to play games with.
President and CEO of Nike Inc, John Donahoe said; “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".
“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.”
“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,” says Benoit Pagotto, one of RTFKT’s co-founders.
With this move, Nike looks to expand its digital footprint and capitalise on the growing trend of immersive content.