Nike enters the metaverse game following RTFKT acquisition


Sportswear manufacturer Nike announced the acquisition of virtual sneakers and collectibles brand RTFKT. Nike becomes the biggest United States-based athletic products manufacturer through this partnership to join the metaverse bandwagon. 

A Cointelegraph report from Nov. 2 highlighted Nike’s submission of requests for patenting its namesake, swoosh logo and slogan “just do it” for use online and in online virtual worlds. The filing was accompanied by two new job postings for virtual material designers, signaling the company’s intent to enter the metaverse.

However, the new RTFKT acquisition confirms Nike’s interest in delving into the metaverse ecosystem:

According to Nike, acquiring RTFKT will help the company “deliver next-generation collectibles that merge culture and gaming.” John Donahoe, president and CEO of Nike, believes that the move helps accelerate Nike’s digital transformation efforts:

“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.”

Supporting this vision, RTFKT co-founder Benoit Pagotto said, “We’re excited to grow our brand which was fully formed in the metaverse.”

Related: Adidas enters the metaverse with NFT partnerships

On the other side of the world, German sportswear manufacturer Adidas announced entering the metaverse after partnering with nonfungible token (NFT) companies, including Bored Ape Yacht Club, Gmoney NFT and Punks Comic.

As Cointelegraph pointed out, an article on the Adidas mobile app said:

“The Metaverse is where anyone can express their most original ideas and be their most authentic selves, in whatever form they might take. And thanks to the blockchain [and NFTs], those pioneers can own a piece of what they create.”

Meta, which has recently rebranded itself from Facebook, welcomed Adidas’ entry as it said, “We can’t wait to see Adidas in the metaverse.”