Nike acquires RTFKT brand
It reportedly leverages the latest in game engines, NFTs, blockchain authentication and augmented reality to create ‘one of a kind’ virtual products and experiences
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Nike has announced it has acquired RTFKT, a brand that reportedly uses “cutting edge innovation” to deliver next generation collectibles that “merge culture and gaming”.
Founded in 2020 by Benoit Pagotto, Chris Le and Steven Vasilev, RTFKT is said to “redefine the boundaries of physical and digital value to serve their broad community of creators”.
It reportedly leverages the latest in game engines, NFTs, blockchain authentication and augmented reality to create “one of a kind” virtual products and experiences.
John Donahoe, president and CEO of Nike, said: “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.
“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.”
Benoit Pagotto, one of RTFKT’s co-founders, added: “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.
“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.
