Nike Getting in on the Metaverse
Nike has finalized a deal to buy Virtual Sneaker Company RTFKT
The virtual world got a boost when Facebook recently rebranded itself to Meta Platforms, reflecting its belief that the metaverse will be the next big digital leap forward.
CNN reports that Nike last month became one of the first big brands to enter the metaverse, where users can buy virtual land and other virtual assets like clothing -- and sneakers -- for avatars in the form of a NFT non-fungible token.
Nike CEO John Donahoe said of buying RTFKT, which 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."