Nike announced the acquisition of a company that designs fashion clothing for the metaverse, RTFKT Studios, once noted for selling 608 pairs of NFT shoes in just six minutes.

Fast facts

  • After announcing the acquisition, both Nike and RTFKT Studios tweeted videos, each containing the logos of Nike, Jordan, Converse and RTFKT.
  • RTFKT Studios, founded in 2020, designs virtual sneakers and outfits and sells them via non-fungible tokens (NFTs). It is noted for a $3.1 million sale in six minutes for selling 608 pairs of doodled sneakers and their tokenized version. 
  • RTFKT said on CNBC that blockchain technology solves the problem of counterfeit luxuries. Fake products are part of the sneaker market craze.
  • Nike has long been preparing for the virtual world. In November, the brand cooperated with Roblox to create a “NIKELAND,” where players can join athletic games and “wear” virtual outfits from Nike. In October, Nike filed trademarks to the U.S. Patent and Trademark Office for “virtual goods” and entertainment; it also posted two job positions of “virtual material designer,” one of which is especially for footwear. 
  • In 2019, Nike cooperated with Fortnite to make virtual characters wear classic sneakers Jordan as the theme.
  • The metaverse is moving from concept to reality. On Dec. 9, Meta’s virtual-reality world “Horizon Worlds” opened to adults in the U.S. and Canada, where people can say hello to each other in a 3-D image with the help of VR devices. Even in the virtual world, fashionable dresses seem to be becoming necessities for socializing.