• NIKE Acquires RTFKT, a Leading NFT Fashion Studio

  • The RTFKT team has announced an acquisition by leading sports brand, NIKE, in what has to be the NFT news of 2021. The announcement follows the company’s successful Clone X drop, which is currently ranked first on OpenSea with a floor price of 5.75 ETH.

    While there were numerous complaints about the drop and concerns about licensing details, they were put on hold following the team’s major announcement about their new family member, NIKE. The specific terms of the deal will not be disclosed, according to the official press release; however, the RTFKT team hinted on Twitter that big things are in store for 2022, as they will continue to evolve the brand, products, and community with NIKE’s resources and talents.

    “This is a once-in-a-lifetime opportunity to build the RTFKT brand, and we are excited to leverage Nike’s foundational strength and expertise to build the communities we care about,” says Benoit Pagotto, one of RTFKT’s co-founders. “Nike is the only brand on the planet that shares our deep passion for innovation, creativity, and community, and we’re excited to grow our brand that was fully formed in the metaverse.”

    Benoit Pagotto, Chris Le, and Steven Vasilev founded the digital fashion company in 2020 and have since been innovating and redefining the boundaries of physical and digital value to serve their large community of creators.

    “This acquisition accelerates Nike’s digital transformation and allows us to serve athletes and creators at the intersection of sport, creativity, gaming, and culture,” said John Donahoe, President and CEO of NIKE.

    Following this incredible announcement, the next big question plaguing the NFT community is, of course, whether or not this type of acquisition is in line with Web 3 principles and decentralization. We anticipate seeing many more of these collaborations in the coming year, regardless of whether they benefit the NFT space.

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