Nike Just Bought RTFKT & We're One Step Closer to the Future of Sneakers

Are you sick and tired of hearing about blockchains, NFTs, and the metaverse? Well, we're just getting started. Over the past twelve months the fashion and sneaker industry has been dipping its toes into the world of crypto. A subject that seems to be expanding in popularity by a thousandfold every single day, Nike has just gone ahead and dived head first into the world of NFTs by acquiring RTFKT - one of the world's biggest digital sneaker companies.

Founded by Benoit Pagotto, Chris Le and Steven Vasilev, RTFKT (pronounced artifact) has only been around for a year. With that said, the brand has been making waves across the metaverse with their virtual footwear releases, even collaborating with industry icons such as Jeff Staple and Takashi Murakami on a few projects. In fact, they've been so popular that in 2021 alone, they've sold over $3.1 million USD in designs.

"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," said John Donahoe, President and CEO of Nike. "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."

It's crazy to think that we wrote this article just a few months ago, and now, the answer has finally been confirmed. At this moment in time, pretty much nothing else is known about this newly-minted relationship, but more will be revealed very soon. Whether you're a fan of digital sneakers or not, there's no doubt that Nike and RTFKT are working on something massive, and whatever that may be we'll be the first to let you know. While you're here, here are a few fashion brands that are also exploring NFTs and the metaverse!