NIKE, Inc. has announced the acquisition of RTFKT, a leading brand that leverages cutting-edge innovation to deliver next-generation collectibles that merge culture and gaming.
“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,”
says John Donahoe, President and CEO of NIKE, Inc.
“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.”
Founded in 2020, by Benoit Pagotto, Chris Le and Steven Vasilev, RTFKT is a pioneering and innovative brand that redefines the boundaries of physical and digital value to serve their broad community of creators. This dedicated team leverages the latest in-game engines, NFTs, blockchain authentication and augmented reality to create one-of-a-kind virtual products and experiences.
“This is a unique opportunity to build the RTFKT brand and we are excited to benefit from Nike’s foundational strength and expertise to build the communities we love,”
says Benoit Pagotto, one of RTFKT’s co-founders.
“Nike is the only brand in the world that shares the deep passion we all have for innovation, creativity and community, and we’re excited to grow our brand which was fully formed in the metaverse.”
The terms of the deal will not be disclosed.
About RTFKT
Formed by three friends at the beginning of the COVID era in Jan 2020, RTFKT was born on the metaverse, and this has defined its feel to this day.
RTFKT is a very eclectic, creator-led organization. RTFKT uses the latest in-game engines, NFT, blockchain authentication and augmented reality, combined with manufacturing expertise to create one-of-a-kind sneakers and digital artifacts.
RTFKT is known to be creating viral sneaker designs, memes and collectible exclusives. RTFKT has maintained a reputation of being more than a little ahead of the cutting edge of technology, a rep that has many mystified, as they would appear to lack the resources and manpower to rival giants in terms of research and development in the birth of digital fashion.
For many years, RTFKT was an undefined collective, working strictly in the shadows, providing designs and concepts to game companies and a few select fashion brands, in 2020 they formed an entity to expand their services into the public metamarket. The response has been excellent, and RTFKT’s social growth has been almost frightening. The RTFKT project was scheduled to take off in 2040, but the human development in consciousness has accelerated faster than anticipated. We are here to accelerate our digital future now.
About NIKE, Inc.
NIKE, Inc., based near Beaverton, Oregon, is the world’s leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Converse, a wholly-owned NIKE, Inc. subsidiary brand, designs, markets and distributes athletic lifestyle footwear, apparel and accessories.
