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| Nike's obsession with Metaverse |
Nike takes a look at the metaverse and the world of crypto assets and announces the acquisition of RTFKT Studios.
RTFKT Studios uses the latest innovations to deliver next generation collections that blend culture and gaming.
RTFKT Studios is currently partnering with Japanese artist Takashi Murakami to support CloneX, one of NFT's most viewed projects this month.
According to data from crypto tracker CryptoSlam, CloneX's trading volume has approached $65 million since it was first launched less than three weeks ago.
Terms of the acquisition were not disclosed. But the startup raised $8 million in May, led by Andreessen Horowitz, who estimated the company at $33.3 million.
“This is a unique opportunity to build our brand,” said co-founder of RTFKT Studios. We're excited to use Nike's core strengths and expertise to build our favorite communities.
"Nike is the only brand in the world that shares our passion for innovation, creativity and community," he added. We are very pleased to be able to develop our complete brand in the Metaverse.
RTFKT Studios not only builds its own NFT, but also works with other code makers to design projects like: b. Actual startup with screenshots from other NFT projects, including CryptoPunks and Bored Apes.
Nike acquires RTFKT Studios
Nike said the acquisition is another step in accelerating the company's digital transformation. It enables us to support athletes and innovators at the interface of sport, creativity, play and culture.
"We have acquired a talented team to create content with trusted and connected brands," she added. Our plan is to invest in the RTFKT brand, serve and grow their innovation and creative community, and expand our digital presence and capabilities.
RTFKT Studios was founded in 2020 by Benoit Baguto, Chris Low and Stephen Vasiliev. It is an innovative brand that redefines the boundaries between physical and digital values and serves a large community of creators.
This dedicated team uses the latest game engine, NFT, blockchain authentication and augmented reality to create unique virtual products and experiences.
In addition, earlier this month, Adidas announced a partnership with the Bored Apes Yacht Club project.