During the same week at the end of 2021, the two Titans: NIKE and ADIDAS made their moves into the metaverse.
NIKE acquires RTFKT
13 December 2021
NIKE, Inc. today announced the acquisition of RTFKT, a leading brand that leverages cutting edge innovation to deliver next generation collectibles that merge culture and gaming.
“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 and CEO of NIKE, Inc. “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.”
Founded in 2020, by Benoit Pagotto, Chris Le and Steven Vasilev, RTFKT is a pioneering and innovative brand that redefines the boundaries of physical and digital value to serve their broad community of creators. This dedicated team leverages the latest in game engines, NFTs, blockchain authentication and augmented reality to create one of a kind virtual products and experiences.
RTFKT has cemented themselves in the WEB3 space primarily utilising the Avatar Project, CloneX in collaboration with contemporary artist Takashi Murakami who designed the clones alongside the RTFKT Team. The Impact of Murakami's "DNA" and "DRIP" traits have given their holders access to exclusive benefits to subsequent ventures by the Artist.
Adidas acquires a PFP from the Bored Ape Yacht Club NFT Collection
The brand with the three stripes has arrived in the metaverse, strutting into the digital frontier in the form of a Bored Ape avatar clad in banana yellow Firebird tracksuit, a matching bucket hat, and a set of heart-shaped glasses resting over its disinterested eyes. The non-fungible token, which Adidas now owns, sold in September for 46 ETH (around $156,000 at the time), according to data on OpenSea.
The furry blue monkey, named Indigo Herz, is one of a handful of Adidas’ recent moves in Web3 that demonstrates how the brand wants its sportswear to live in the digital world. Beyond buying the NFT, it’s collaborating with Bored Ape Yacht Club, the buzzy outfit behind the collection of virtual simians that is among the most expensive and coveted in the space.
The brands, both deeply rooted in sport and as such would be keenly involved in the largest sporting event in the world. The rivalry continues as both brands make their moves in preparation for the FIFA World Cup each featuring their lead Soccer athletes Ronaldo and Messi.
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We're building too in the new web too utilising this new technology which will undoubtedly enhance the collectibles experience for many.