Technology: Nike acquires RTFKT, a startup specialised in virtual wearables and collectables (NFTs)

Nike has acquired RTFKT (pronounced "artefact"), a US startup specialised in the creation of virtual wearables and collectibles (NFTs) in the metaverse that made its name designing virtual trainers, according to the Oregon-based equipment manufacturer on 13/12/2021. "The terms of the agreement will not be disclosed," said Nike.

RTFKT relies on augmented reality and artificial intelligence to develop its products and NFTs, whice are certified and authenticated on a blockchain. RFTKT's products will be able to be introduced into the American equipment manufacturer's virtual world "Nikeland" available in the metaverse (see below). "Avatars will also be able to be used in video conferencing tools such as Google and Meet and Zoom," said Philippe Rodriguez, manager partner of the investment bank Avolta Partners, which made the sale, to the French daily Les Echos on 14/12/2021.

In 2021, the 12-employee startup founded in 2020 by Benoit Pagotto, Chris Le and Steven Vasilev posted $100m (€88.3m) in turnover. RTFKT notably sold a collection of 608 digital sneakers designed by crypto-artist…