Nike Inc. announced the acquisition of RTFKT, a crypto fashion brand.
Founded in 2020, by Benoit Pagotto, Chris Le and Steven Vasilev, London-based RTFKT ((pronounced “artefact”) uses the latest in game engines, NFT, blockchain authentication, and augmented reality to create virtual sneakers and collectibles, merging realities in fashion and gaming.
“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,” said Benoit Pagotto, RTFKT’s co-founder. “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 were not disclosed.
Logo courtesy RTFKT