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Nike prepares expansion for Metaverse and buys NFT creation studio

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Nike is preparing to follow in the footsteps of its great competitor Adidas and enter the Metaverse. Next step, as announcement released on Monday, is the purchase of RTFKT Studios. The platform specializes in creating non-fungible tokens (NFT).

According to John Donahoe, CEO of Nike, RTFKT showed harmony with Nike’s philosophy, especially in the digital aspects.

“We are acquiring a very talented team of creators with an authentic and connected brand. Our plan is to invest in the RTFKT brand, serve and grow its innovative and creative community, and extend Nike’s digital footprint and capabilities.”

To celebrate the partnership, the studio released a video featuring some avatars holding Nike sneakers. Some of the works also contained the RTFKT logo.

Sports rivalry in the Metaverse

This acquisition makes Nike the latest company to join Metaverse, a version of the Internet that will combine virtual and augmented reality with traditional computing. However, the acquisition of RTFKT was not Nike’s first foray into this market.

Last month, the company launched a project called NIKELAND, in collaboration with the role-playing game Roblox. NIKELAND transports the entire Nike headquarters to the Metaverse, including the administrative headquarters and sporting goods testing grounds.

Through this metaverse, Roblox players can test their skills by competing in various mini-games, such as tag, for example. NIKELAND also has NFTs of the company’s products to create your own games.

Also in November, Nike submitted four applications for registration of branded virtual goods to the US Patent and Trademark Office. In other words, it is possible that the company intends to expand its Metaverse to other lands.

In early December, rival Adidas signed a partnership with Bored Ape Yatch Club, as reported. In this case, the German company will focus on creating NFTs for its products.

Adidas and Nike have always been great rivals in the sports market, especially in American sports. This time, rivalry can go beyond the real world and bring several innovations in both metaverses.

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