Why did Nike acquire NFT sneaker maker RTFKT studios?

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Have you seen social media like Instagram, which used to get sponsored by Facebook, now scribbles under the name of Meta? If yes, then you must be analyzing this changing trend of people getting more and more connected to the Metaverse. 

Metaverse was an older concept of augmented reality, virtual space, and the imaginative 3D world. Well, this wide range of 3D virtual space is accommodating attention from millions because although the idea is older, innovation is new. At the same time, it is honestly due to the latest technology that has finally exited the engineers to build a virtual universe.

This is a well-observed fact that Metaverse is in the eye of every business maker, and interestingly the universe of Metaverse is just half paved yet, so what will happen when it gets fully-fledged. This is a pervasively beguiling question. But what we have now is that many companies are still connecting with this very part of Metaverse. Whether it is Facebook, Microsoft, QUALCOMM, HTC, Apple, and others, they are still dreaming of going jockeying in defining the iteration of the internet with Meta. 

This isn’t enough; there is a lot to go, and it’s not about Meta being in power; it is about how companies are changing the trend by stepping into the parallel universe of the Meta world.

The present condition of Metaverse

What is Metaverse?: Generating a cybernetic galaxy that meets the demands of working, gaming, meeting, and even socializing everyone together on one platform is what we call Metaverse. Blending augmented, and virtual reality with blockchain operations mend the way in making such a universe. Correct, it sounds like a video game, and in fact, Metaverse is closely connecting its experience with that of a video game. Still, if we look back, there were numerous games adapted to the 2D environment of Metaverse. 

There is a broad concept of giving a speech on what Metaverse is and how it is beneficial to so many individuals, but we must look at it in terms of how the company has collaborated with the context, and one such trending brand joining Meta world is Nike RTFKT.

NIKE NFT powering its brand in a virtual galaxy

Did you know NIKE bought virtual shoe company RTFKT studios on Dec. 14, 2021, intending to grow brand integrity into the world of virtual reality Nike NFT?

Yes, it’s true!

Nike NFT, which has hitherto stepped into the space with its inauguration as NIKE LAND, jointly partnered with Roblox to give out fascinating avatar suits in the VR games made of NFT Nike products, has again pushed into the news by joining the RTFKT studios, which will craft Nike NFT sneakers. It all happened in the month of October when Nike filed the trademark application to announce that the team is going to sell its brand virtual footwear and apparel with the startup brand known as RTFKT studios that will bring out the best of technology in producing optimistic productive growth. 

But before we go on stating the benefits and functionality Nike NFT is experiencing after connecting to the metagalaxy, the other important topic we should look at is what actually RTFKT studios is?

What is RTFKT Studios?

The brand RTFKT sneakers were unveiled in January 2020 by Chris Le, Benoit Pagotto, and Steven Vasilev. Historically, the brand used to craft designs for gaming companies alongside fashion brands. Later in February, RTFKT studios released the set of rainbow-colored virtual sneakers or you can say RTFKT sneakers as NFTs with a teenage artist Fewocious making collectibles in the Metaverse. And as soon as it gained hype from customers, its product price rose within a few weeks. “These days, the new generations are used to demanding interactivity, and we think that one of the utilities is status and rarity, so you will want to display it,” this is what Pagotto said when questioned about the concept of the meta world playing with digital transformation. 

RTFKT’s other collaborations

Recently, the RTFKT studios have collaborated with Takashi Murakami to introduce clone X as its most ambitious avatar, a project that aids in marking the emergence of an ecosystem containing the Metaverse ready avatars.

To such a business brand, Nike is concerned about its productivity too. The brand thought of NFTs saying that “a leading brand that leverages cutting edge innovation to deliver next-generation collectibles that merge culture and gaming.” The brand aims for a vision where the company asks the customers to link into Meta wallets through which NFT owners can verify their products. Nike’s idea was to give the buyers a look at the digital versions of footwear and apparel, which are materialized and get stored in the digital locker. 

The result of the connection

Although no one has revealed the terms of the deal between Nike RTFKT, it is very sure that the company is driven into making the big endorsement deal to become a leading brand in the virtual world. Whereas it is not only about the sneakers, Nike NFT is serious about retailing into the Metaverse so that we can expect some other apparel as well in this digital world apart from RTFKT Nike shoes.

Where the brand used to sell the products physically, the jumping into the world of Meta opened up a booming performance for the companies. NFT Nike has even made full efforts to bring forth the extensive Metaverse effort, which has video games and building a Metaverse studio encompassed in it. Broadly speaking, some critics still feel it’s not worth Nike focusing on representing digital Nike NFT sneakers to meet the demands of elite athletes. 

The future vision of Nike NFT in the Metaverse

Well, the brand Nike has flagged its prestige in the virtual zone of the 3D universe with the RTFKT studios that leverage blockchain authentication along with augmented reality to create innovation and creativity. RTFKT says that “human development in consciousness has accelerated faster than anticipated. We are here accelerating our digital future now.”

Also, the emergence of the Nikeland tool kit in the Omnichannel of Metaverse has created widely beneficial options for visitors to play various games or try avatar outfits, which was never possible earlier. Within the influence of RTFKT’s high technology and power, Nike will continuously get a developed arena with storefronts in Metaverse alongside gaining a solid grip in the NFT industry.  

The Meta universe has brought real-life movements into a virtual space, and as this galaxy consistently develops, many brands will get their position, like that of NIKE  RTFKT.

Other major brands in the Metaverse

Burberry: Being a luxury brand, Burberry partnered with Mythical Games last Fall to bring its signature pattern to the Blankos Block Party game. Users could buy 25 dollar armbands to $300 in-game characters. 

Jokes on us, that $300 Sharky B character has doubled in value on the secondary market.

Samsung: Another Decentraland user, the tech giant kicked off 2022 with many NFT news. The tech giant opened a virtual replica of its flagship store this month. And also announced that it would create an NFT app that would allow Samsung Smart TV owners to shop for NFT’s on an aggregated NFT Marketplace.

Gap: Fashion brand Gap has released its first collection of NFTs in collaboration with Brandon Sines, the artist behind Frank Ape. Gap’s collectible experience is built in partnership with Interpol, a production studio that uses Tezos.

The collection consists of four-level features available on a first-come and first-serve basis, gaining limited editions at the Rare and Epic levels. At the same time, there are Additional digital experiences planned for the future.

With this new project, the company hopes to obtain insights into how customers want to engage in a digital world.

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