Nike Enters the Metaverse After Acquiring RTFKT

Sporting goods manufacturer Nike has announced the acquisition of virtual sneaker and collectibles brand RTFKT. Through this partnership, Nike became the largest manufacturer of sports products in the United States, joining the metaverse wave.

A Cointelegraph report on Nov. 2 highlighted the filing by Nike to patent its namesake, the swoosh logo and the words just do it (Nike’s tagline) for use in online and online virtual worlds. Along with the filing, the company posted two new positions for a virtual material designer, signaling the company's intentions to enter the metaverse.

However, the new RTFKT acquisition confirms Nike's interest in delving into the Metaverse ecosystem:

RTFKT is now part of the Nike family. ‍

— RTFKT Studios (@RTFKTstudios) December 13, 2021

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

"Our plan is to invest in the RTFKT brand, serve and grow their innovation and creative community, and expand Nike's digital footprint and capabilities."

Echoing this vision, RTFKT co-founder Benoit Pagotto said, “We are excited to grow our fully formed brand in the Metaverse.”

On the other side of the world, German sporting goods manufacturer adidas announced its entry into the metaverse after partnering with non-fungible token (NFT) companies including Bored Ape Yacht Club, gmoney NFT and PUNKS Comic.

Today we enter the metaverse with Bored Ape Yacht Club, gmoney NFT and PUNKS Comic.

It's time to enter a world of endless possibilities.

— adidas Originals (@adidasoriginals) December 2, 2021

As Cointelegraph noted, a post on the Adidas mobile app reads:

“In the Metaverse, anyone can express their most original ideas and express their truest selves in any form they may take. And thanks to blockchain (and NFTs), those pioneers can own what they create a part of."

Meta (formerly Facebook) welcomed the addition of Adidas, saying "We can't wait to see Adidas in the Metaverse."

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