Which nft company sold to nike in december 2021?
Question: Which nft company sold to nike in december 2021?
Nike Buys RTFKT, an NFT Studio for Digital Sneakers
Nike, the global sportswear giant, has entered the world of NFTs (non-fungible tokens) by acquiring RTFKT, a digital design studio that produces virtual sneakers and collectibles for the metaverse. The deal, announced on December 13, 2021, marks Nike's first foray into the fast-growing market of crypto art and digital fashion.
What is RTFKT?
RTFKT (pronounced "artifact") is a start-up founded in January 2020 by Benoit Pagotto, Chris Le and Steven Vasilev. The studio creates "metaverse-ready sneakers and collectibles" that can be worn across different online environments, such as games, social media platforms and augmented reality applications.
Each RTFKT product is backed by an NFT, which is a blockchain-based certificate of ownership that verifies its authenticity and provenance. This means that buyers can collect, trade and sell their digital sneakers on secondary markets, much like physical ones.
RTFKT has collaborated with various artists and celebrities, such as Takashi Murakami, FEWOCiOUS and Paris Hilton, to create limited-edition drops that have sold out in minutes and generated millions of dollars in revenue. According to CryptoSlam, RTFKT's CloneX project, which features avatars designed by Murakami, has seen nearly $65 million in transaction volume since its launch in late November 2021.
Why did Nike buy RTFKT?
Nike's acquisition of RTFKT is part of its digital transformation strategy and its ambition to serve athletes and creators at the intersection of sport, creativity, gaming and culture. By buying RTFKT, Nike can tap into the growing demand for digital fashion and NFTs, as well as expand its presence in the metaverse, the emerging digital universe where people can experience a parallel life to their real-world existence.
Nike CEO and president John Donahoe said in a statement: "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. 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."
The terms of the deal were not disclosed, but RTFKT was last valued at $33.3 million in May 2021 when it raised an $8 million seed round led by Andreessen Horowitz. Nike could have paid well over $30 million for the deal.
What does this mean for the future of NFTs and digital fashion?
Nike's acquisition of RTFKT is a significant milestone for the NFT and digital fashion industry, as it shows that mainstream brands are taking notice of the potential of these new forms of expression and commerce. Nike is not the only one; Adidas also announced a partnership with Bored Apes Yacht Club, one of the most popular NFT projects, in December 2021.
The rise of NFTs and digital fashion reflects the changing preferences and behaviors of consumers, especially younger generations, who are spending more time online and seeking new ways to express their identity and creativity. As more people embrace the metaverse as a place to socialize, work and play, they will also demand more options to customize their digital appearance and belongings.
NFTs and digital fashion offer several advantages over physical counterparts. They are more accessible, as they can be purchased from anywhere in the world with an internet connection. They are more sustainable, as they do not require any material resources or transportation. They are more creative, as they can transcend the limitations of physics and reality. And they are more valuable, as they can appreciate over time due to their scarcity and uniqueness.
The future of NFTs and digital fashion is bright, as more brands, artists and creators join the space and innovate new ways to delight their audiences. Nike's acquisition of RTFKT is just the beginning of a new era of digital expression and commerce.
Rjwala is your freely Ai Social Learning Platform. here our team solve your academic problems daily.
0 Komentar
Post a Comment