Have you ever heard about RTFKT? If not, this article is for you. Today we will talk about who are the owners of RTFKT and why did NIKE buy RTFKT. Let’s find out by reading the article below.
Who are the owners of RTFKT?
Benoit Pagotto is the founder of RTFKT, a virtual fashion platform that quickly became one of the biggest names in the NFT market. In February 2021, RTFKT shocked the world for the first time by selling $3.1 million worth of NFT sneakers in just seven minutes. Since being acquired by Nike in December, the studio has helped the US sportswear giant become a frontrunner in the Web3 space.
Why did Nike buy RTFKT?
In an official press release, John Donahoe, President and CEO of Nike, said: "Our plan is to invest in RTFKT brands, serve and grow their innovation and creative communities, and expand Nike's digital footprint and capabilities."
Why Nike is in metaverse?
Nikeland, Nike's purpose-built metaverse space, uses the Roblox platform to allow its fans to meet, socialize, participate in promotions, and participate in a variety of brand experiences.
How much did Nike pay for RTFKT?
RTFKT has since joined the Nike family of brands alongside the likes of Converse, SB and Jordan. At the time of the purchase, RTFKT was valued at approximately $33 million; however, internet rumors estimated its acquisition at more than $1 billion.
I hope this article will help you to learn who are the owners of RTFKT and why did NIKE buy RTFKT. Nike's Web3-based RTFKT Studios is now taking on the real world with its new Cryptokicks iRL sneaker. A homage to Tinker Hatfield's Air Mag, the Cryptokicks iRL is RTFKT's first smart sneaker.
