Nike is taking a huge leap further into the world of crypto-collectibles and they’ve acquired the NFT studio RTFKT.
RTFKT is currently behind one of the most talked-about NFT project drops of the month. A sweeping avatar partnership with artist Takashi Murakami, called “CloneX,” had just dropped about three weeks ago, and had already received over $65 million in transaction volume.
RTFKT is now a part of the NIKE, Inc. family. ??? pic.twitter.com/5egNk9d8wA
— RTFKT Studios (@RTFKTstudios) December 13, 2021
The startup announced that they just closed a $8 million Series A financing round led by Andreessen Horowitz. The company now has a valuation of $33.3 million.
“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” RTFKT co-founder Benoit Pagotto said in a statement.
RTFKT purchased by Nike
“We will continue to evolve our brand, innovations, products, and community with NIKE resources and talents. NIKE is the only brand in the world we always looked up to and got inspired by when starting RTFKT.
Adidas is working on NFT and partnered with the Bored Apes Yacht Club (NFT project) earlier this month.
RTFKT worked with other crypto creators to design items like physical shoes that utilize imagery in other NFT projects, including CryptoPunks and Bored Apes.