Nike announced that is has acquired RTFKT, a virtual sneaker company, as part of an effort to expand in the "metaverse," where users can purchase clothing, virtual land, and other digital assets for avatars with non-fungible tokens.
RTFKT (pronounced "artifact"), which Nike purchased for an undisclosed sum, also makes NFT collectibles and memes.
"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," said Nike President and CEO John Donahoe.
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