Nike launches NFT with purchase of virtual shoe maker

The global sportswear maker sees potential profits and virtually no supply chain issues to produce virtual shoes and branded clothing online.

In mid-December, Nike announced the acquisition of RTFKT, a leading brand that uses digital innovation to deliver online collectibles that merge culture and games. This is Nike’s latest effort to expand its push into the blockchain, metaverse, and cryptocurrency space.

Nike wants “Just Do It” on NFTs

“This acquisition is another step that accelerates Nike’s digital transformation and enables us to serve athletes and creators at the intersection of sport, creativity, games and culture,” said John Donahoe, president and Nike CEO in his statement. “We are acquiring a very talented design team with an authentic, connected brand, and expanding Nike’s digital footprint and capabilities.”

Founded in 2020 by Benoit Pagotto, Chris Le and Steven Vasilev, RTFKT uses the latest game engines, NFT, blockchain authentication and augmented reality to create unique virtual products and experiences. RTFKT also creates physical digital NFT products at limited “forging events” for members of its community.

Nike appears to be following a ‘quick follow’ strategy as other fashion brands are in a race to assert their digital claims ahead of the metaverse’s mass adoption. Examples include Dolce & Gabbana, Jimmy Choo and Adidas AG who have already launched NFTs. In fact, the launch of Adidas’ NFT “Into the Metaverse” collection this month was an instant success that generated sales of $ 23 million. When it comes to duplicating these kinds of NFT profits, Nike wants “Just Do It”.

The complementary creation of Nikeland on the Roblox ecosystem

Last month, Nike announced its first major breakthrough in the metaverse with the creation of “Nikeland” on Roblox – an online gaming and game creation platform that allows anyone to make new games and anyone to play. ‘play it.

Nikeland currently allows visitors to participate in games such as tag, lava ground, and dodge ball with friends. However, the Nikeland Toolkit makes it easy for creators to design their own mini-games from interactive sports material.

In addition, it is a free virtual setting that allows users to sync real-world accelerometers on their mobile devices to transfer offline movements to online play, as well as outfitting Nikeland avatars with products. Nike specials. Nike runs fast so as not to lose the race in the metaverse.

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