Nike Acquires Metaverse Fashion Company RTFKT

American sports manufacturer Nike is acquiring metaverse fashion company RTFKT, the company reports in a press release. In doing so, Nike shows its ambitions to invest in this parallel universe, described as ‘the future of the internet’.

RTFKT, pronounced Artefact, was founded in 2020 and uses new technologies in NFTs (non-fungible tokens), blockchain and augmented reality. The company specializes in creating virtual products, including sports shoes.

“Nike is the only brand in the world that shares our deep passion for innovation, creativity and community, and we are thrilled to be able to grow our brand, which is entirely formed in the metaverse,” said RTFKT CEO Benoît Pagotto. The amount of the acquisition was not disclosed.

For some time now, the American sports brand has been looking with great interest at metaverse, a virtual space that connects all virtual worlds by using the internet and augmented reality. In November, the company launched “Nikeland” on the video game platform Roblox, a virtual world where players dress their characters in Nike attire.

Major brands’ interest in metaverse has been growing since Facebook announced in late October that it plans to turn this virtual space into its new business project.