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Nike acquires fashion startup NFT RTFKT

The popular American sportswear brand Nike has also joined the Metaverse and NFT universes. The company has officially announced that it has acquired RTFKT from Studio NFT.

The fact that Nike took such a step shortly after Adidas, the industry’s biggest competitor, entered the industry earlier this month clearly shows once again the interest of big companies in Metaverse and NFT.

John Donahoe, President and CEO of Nike, said: “This step will accelerate the digitization of Nike and at the same time allow us to better serve athletes and manufacturers who are at the interface between sport, creativity, gaming and culture.”

Benoit Pagotto, Co-Founder of RTFKT said: “This is a great opportunity to rename RTFKT. “We will use Nike’s strength and experience to rebuild the communities we love.”

RTFKT also has a number of partnerships with NFT collection manufacturers such as CryptoPunks and Bored Ape Yacht Club.

Nike’s move to take over the fashion startup NFT RTFKT comes shortly, around two weeks after the switch from Adidas to NFT. Adidas also posted on its Twitter account at the beginning of December, “We’re jumping into the metaverse with Bored Ape Yach Club, GMoney and Punk’s Comic. It’s time to dive into the world of unlimited possibilities. “.

The company also replaced the photo on its Twitter profile with an NFT photo from the Bored Ape Yacht Club. Adidas also has a partnership with Conbase.

About RTFKT

RTFKT is one of the special companies that is attracting the attention of NFT investors. Studio NFT raised $ 8 million in May during an investment tour led by renowned venture capital firm Andreessen Horowitz. The company’s value increased to $ 33 million after these investments.

Additionally, RTFKT also participated in an avatar work called CloneX with artist Takashi Murakami, and this collaboration has become one of the most talked about NFT projects in the last few days. In the past 3 weeks, the project has reached a trading volume of $ 65 million.

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.