Nike bought RTFKT, maker of artistic footwear only for a digital world
Combining NFT-funded metaverse items with Nike products is a potential way of creating extra money to fuel development. This will ensure that if people are at any given time able to purchase their goods in-game, they’ll be well prepared & able to get their hands on the product. The apparel giant announced the company’s recent acquisition of RTFKT Studios, which it has been following for some time. The brand has a strong reputation in the industry, but they have employed many creative businesses to keep growing their brand and reach more & more people.
Nike bought RTFKT
RTFKT collaborated with FEWOCiOUS to sell sneakers that are in the real world and online. 600 pairs sold on NFT in just 6 minutes and they made $3.1 million total. NFTs have been around for a while, yet they were first becoming popular in early spring. This is why on March 1st, Grimes created over 3 million shares of his digital art on his blog which then netted him $6 million. This is a fascinating question! I wish there was a clear answer for that, but considering the past fluctuations of most digital items, it’s not really possible to say. Let’s look at both of these listings specifically: OpenSea and Nifty Gateway
RTFKT is now a part of the NIKE, Inc. family. 🌐👁🗨 pic.twitter.com/5egNk9d8wA— RTFKT Studios (@RTFKTstudios) December 13, 2021
But forget the past — and that time someone edited their shoes on Elon Musk — It’s moving forward with better and more authentic avatars, made with the artist himself! This just launched yesterday with a new collaboration of RTFKT avatars featuring Takashi Murakami, who is an A16Z-backed startup.
NFTs are a huge trend with the power to reshape the world as we know it. Because we own them, NFT owners can access huge discounts, be assured of quality goods, and make other countries or companies more accessible. With the idea that eventually, you’ll play games or enter other sorts of VR spaces where your items can be materialized, once those spaces have read the blockchain to gauge what items you own rights to.
Nike is partnering with game engine specialists to change the way athletes play, using NFTs and blockchain authentication. With AR integration, it will allow athletes on the sidelines or during breaks in games to see key stats that won’t show up on the scoreboard.
Nike announced that it is partnering with RTFKT’s lightning bolt logo, which will be featured alongside its iconic swoosh, Jumpman, and Converse logos. Nike’s history has been built on great athletes and design teams who have harnessed the power of grassroots culture to sell their products. Similarly, RTFKT was founded in 2020 and has grown rapidly on its unique designs and no-fuss ethos. The data indicates our development of consciousness has accelerated faster than anticipated & with that, we’re moving towards a digital future.
WHAT’S AN NFT?
They provide a digital store for digital items where owners can sell and track ownership on the blockchain. This way you can safely sell your belongings. Cryptocurrency is the most prominent use of NFTs, but they are also commonly used to represent media or digital objects in games. The blockchain can keep track of who has ownership of the file. It might be considered a one-of-a-kind or a card of many, it doesn’t really matter.
NFTs have been making headlines lately, with memes such as Nyan Cat & The “Deal With It” Sunglasses being sold through auction sites. They can reach millions of dollars and are often a symbol of people’s lifestyle. There’s also a lot of discussion about the massive electricity use and environmental impacts of NFTs. If you still have questions, check this article.