Nike, Inc. has acquired RTFKT to help deliver next generation collectibles.

Nike, Inc. president and CEO, John Donahoe, said: “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.”

“We’re 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 their innovative and creative community and extend Nike’s digital footprint and capabilities,” he said.

The acquisition is the latest for the global sportswear company, as they look to capitalise on the growth of the cryptoverse.

RTFKT was founded in 2020 and is a creative company specialising in the convergence of physical and digital NFT’s.

RTFKT co-founder, Benoit Pagotto, said both company’s creative values align well.

“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,” Pagotto said.

“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,” he said.