Nike Acquires Virtual Sneaker Maker With Sights Set on Metaverse Shopping

Startup RFTKT also makes NFT collectibles

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Nike is laying a stake in the metaverse with the acquisition of virtual-sneaker seller RTFKT.

The athletic-wear giant said this week it had purchased the startup for an undisclosed amount as it becomes the latest brand to attempt to grow its presence in the metaverse, a shared virtual space populated by digital avatars. Founded in 2020, RTFKT is a creative studio that mints and sells non-fungible tokens (NFTs), including virtual shoes that can be worn by said avatars.

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