Nike is taking another step into the metaverse by acquiring RTFKT Studios, a leading metaverse fashion house known for its high-end digital clothing. The acquisition could be a major step forward for the metaverse, NFTs, and the digital fashion industry.

Nike Acquires Virtual Sneaker Creator RTFKT

In yet another major step into the metaverse, NIKE, Inc. announced on Monday that it will acquire $NFTcollectibles and fashion startup RTFKT.

nike metaverse - Nike Buys RTFKT that Makes Virtual Sneakers for the Metaverse

Earlier this year, Nike filed multiple trademarks and patents with the U.S. Patent and Trademark Office to have its logo used in the form of virtual footwear, clothing, headwear, and other products and apparel. In September, Nike built a Nikeland experience and virtual showroom inside of the popular game Roblox for fans to play games, connect, and dress their avatars in virtual apparel via a digital showroom.

nike metaverse - Nike Buys RTFKT that Makes Virtual Sneakers for the Metaverse

“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,” Nike President John Donahoe wrote in a blog post. “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.”

Nike's Foray Into Metaverse

The RTFKT acquisition marks Nike’s next step in its foray into the metaverse. Founded in 2020, RTFKT employs NFTs, crypto, blockchains, and AR technology to establish a one-of-a-kind brand that blends the physical and digital worlds to create products that live at the nexus between fashion and gaming.

The company’s OpenSea page says that RTFKT has 561 NFTs in its own collection and has created at least 1000 others. Its most notable series is a line of virtual sneakers designed around CryptoPunks, one of which sold for 3.2 ETH worth over $12,000 at the time of writing.

Nike and rival Adidas have both invested in Web3 in recent months. In November, Adidas announced a partnership with Coinbase and metaverse gaming platform The Sandbox. Earlier this month, Adidas expanded its $NFTcollaborations by announcing new partnerships with Bored Ape Yacht Club, Punks Comic, and Gmoney.