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Without a doubt, cryptocurrency and NFTs are making huge waves in the past year or so.
Social media giant, Facebook and sportswear pioneer, Adidas have been hitting up the Metaverse scene with valuable partnerships and development.
Adidas announced their partnership with crypto exchange, Coinbase and their collaboration with The Sandbox, a virtual blockchain world.
As for Facebook, the company is rebranding to Meta and its focus will be to bring the metaverse to life and help people connect, find communities and grow businesses.
It is no surprise that Adidas’ main competitor Nike, would want to get a headstart as well in this space.
Their latest acquisition of RTFKT, gave Nike a huge leap as it dives further into the metaverse.
RTFKT, founded in 2020 by Benoit Pagotto, Chris Le and Steven Vasilev, is known for creating virtual sneaker designs using blockchain technology to ensure authenticity.
The financial terms of the deal were not disclosed.
“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,” John Donahoe, CEO of Nike, said in a statement.
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Discreetly, Nike has been taking steps to plot its digital future in recent months.
The Oregon-based company has filed seven requests with the U.S. Patent and Trademark Office in late October which indicated its intent to make and sell virtual Nike-branded sneakers and apparel.
At the same time, Nike also revealed on their blog post about “Nikeland”, in the virtual world of Roblox, describing it as a “place where competition and creativity are abundant for all.”
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