Nike To Acquire Virtual Sneaker Maker RTFKT

Sporting goods giant Nike recently confirmed that it has acquired virtual sneaker company RTFKT, a move it plans to use to consolidate its position in the growing Metaverse.

The fee behind the deal has not been disclosed to the public. Nike CEO John Donahoe said in a statement, “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.” Major tech companies have contributed their own invention to make the Metaverse a reality. Companies like Microsoft, Meta, Intel and even the dating app Tinder all contribute to this goal in one way or another.

While the Metaverse only includes a shared virtual space, various activities can be carried out. In the Metaverse, users can purchase virtual land and other digital assets such as clothing for avatars (which represents each individual in the metaverse) in the form of a crypto asset called a non-fungible token (NFT).

IT World Canada Staff
IT World Canada Staff
The online resource for Canadian Information Technology professionals.

Would you recommend this article?


Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication.

Jim Love, Chief Content Officer, IT World Canada

Featured Download

ITW in your inbox

Our experienced team of journalists and bloggers bring you engaging in-depth interviews, videos and content targeted to IT professionals and line-of-business executives.

More Best of The Web