Nike Acquires RTFKT

The leading creator of virtual sneakers, collectibles and experiences born in the metaverse joins the Nike family.

December 14, 2021

Nike

Nike has announced the acquisition of RTFKT, a virtual sneaker company.

Founded in 2020 by Benoit Pagotto, Chris Le and Steven Vasilev, RTFKT is a brand that redefines the boundaries of physical and digital value to serve a broad community of creators. The team leverages the latest in game engines, NFTs, blockchain authentication and augmented reality to create virtual products and experiences.

“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,” says John Donahoe, president, chief executive officer, Nike. “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.”

“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,” says Pagotto. “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.”

Terms of the deal were not disclosed.