Nike Acquires NFT Studio Developer RTFKT
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Dec. 14, 2021

Nike, Inc., American sportswear company, has acquired a developer of non-fungible tokens (NFTs) called RTFKT, TechCrunch has learned. Nike says the deal is another step towards the company's digital transformation into the metaverse. However, terms of the deal were not disclosed.

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Nike CEO, John Donahue, says the company now faces challenges of developing an innovative and creative community and expanding its digital presence. Founded in 2019, RTFKT works with the latest game engines and blockchain to create unique virtual items. In May, the London-based startup announced the closing of a $8 million seed round led by Andreessen Horowitz that valued the company at $33.3 million.

Blockchain Used to Verify Authenticity of Nike Sneakers

iHodl earlier reported that Peter Molyneux, the creator of Fable and Godus, plans to launch a new game that incorporates the mechanics of NFTs and cryptocurrencies. The new game called "Legacy" is a business simulator based on blockchain technology.

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