If you were worried about how you might “flex” on the other people in the metaverse, Nike and Adidas seem to have read your mind. Last week, we reported that Adidas entered the metaverse in partnership with some major crypto influencers.
This week, Nike acquired RTFKT Studios, an NFT company that makes sneakers for the virtual environment.
Nike’s stake in the game: Nike CEO and president John Donahoe said this project “is another step that accelerates Nike’s digital transformation”, an evolution they have been working on for months.
In November, the apparel company launched “Nikeland”, a virtual world made in partnership with online gaming platform Roblox where players can compete in minigames using their mobile devices and real-life movement’s. They also filed several new trademarks that indicated an intent to transition into selling NFT versions of Nike branded sneakers.
RTFKT (pronounced “artefact”) launched early last year is already making giant strides. In February, they dropped a collection with digital artist Fewocious which reportedly made $3.1 million in 7 minutes. The studio also collaborates with Japanese Takashi Murakami to create a much-talked-about project called CloneX.
💡You know how some people collect sneakers they never intend to wear? These NFT sneakers are pretty similar — difference is it is an image/avatar to be viewed and used virtually.
🤔You might be thinking: ‘what even is ‘the metaverse’?’ Don’t worry, we’ve got you. Our newsletter this Friday will help you make sense of it.
