Nike strives for the metaverse, acquires virtual sneaker company
After the metaverse gained ground, Nike is seeking investment in the increasingly popular virtual world through acquiring a virtual sneaker maker company.
Nike, the American corporation specialized in manufacturing footwear, apparel, and accessories, said Monday it had bought a virtual sneaker maker company, RTFKT, for a sum neither party disclosed.
The footwear giant is looking to extend its footprint in the metaverse as the new virtual world expands.
Nike became last month one of the first major brands to enter the metaverse, which gained prominence after Facebook CEO Mark Zuckerberg announced changing his company's name to 'Meta' to "build the next chapter."
The metaverse allows users to purchase digital assets, such as land and clothing in the form of NFTs.
Nike's latest acquisition is a company that is formed in 2020 by Benoit Pagotto, Chris Le, and Steven Vasilev and that makes NFT collectibles and memes.
“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,” Nike Chief Executive Officer John Donahoe said in a statement.