RTFKT, pronounced "artifact," is a "highly eclectic, creator-led organization. RTFKT utilizes the latest in game engines, NFTs, blockchain authentication, and augmented reality, combined with manufacturing expertise to create unique sneakers and digital artifacts," they explain on their website https://rtfkt.com. It began operating at the beginning of the COVID-19 global pandemic. It was formed by three friends in January 2020. RTFKT was born in the metaverse, which is what's most impactful right now, given that it's already available.
On December 13, Nike Inc. announced the acquisition of RTFKT, leveraging the brand's already cutting-edge innovation to offer collectibles to an entire next generation focused on culture and gaming. Access to RTFKT requires users to link their Metamask wallet, a type of virtual wallet where NFT owners can manage their purchases.
"This acquisition is another step that accelerates Nike's digital transformation and allows us to serve athletes and creators at the intersection of sports, creativity, gaming, and culture," said John Donahoe, President and CEO of Nike, Inc. "We are acquiring a highly talented team of creators with an authentic and connected brand. Our plan is to invest in the RTFKT brand, serve and grow its innovative and creative community, and expand Nike's digital footprint and capabilities."
Founded in 2020 by Benoit Pagotto, Chris Le, and Steven Vasilev, RTFKT is a pioneering and innovative brand redefining the boundaries of physical and digital value to serve its vast community of creators. This dedicated team leverages the latest in game engines, NFTs, blockchain authentication, and augmented reality to create unique virtual products and experiences.
"This is a unique opportunity to build the RTFKT brand, and we're excited to leverage Nike's fundamental strength and expertise to build the communities we love," explains company co-founder Benoit Pagotto. "Nike is the only brand in the world that shares the deep passion we all have for innovation, creativity, and community, and we're excited to grow our brand, which was formed entirely in the metaverse," he adds.