Nike acquires NFT collectibles studio RTFKT • TechCrunch

Nike is taking a plunge deeper into the world of crypto collectibles, asserting that they’re buying the NFT studio RTFKT (pronounced “artifact”).

The acquisition announcement comes at an opportune time for the studio; RTFKT is at the moment behind some of the talked-about NFT mission drops of the month — a sweeping avatar partnership with artist Takashi Murakami referred to as CloneX. Since its preliminary drop lower than three weeks in the past, the mission has already seen practically $65 million in transaction quantity in keeping with crypto tracker CryptoSlam.

Phrases of the acquisition weren’t disclosed. The startup raised an $8 million seed spherical again in Could led by Andreessen Horowitz that valued the corporate at $33.3 million.

“This can be a distinctive alternative to construct the RTFKT model and we’re excited to learn from Nike’s foundational power and experience to construct the communities we love,” RTFKT co-founder Benoit Pagotto mentioned in a press release.

Earlier this month, Adidas introduced a partnership with NFT mission Bored Apes Yacht Membership.

Along with constructing out its personal NFT drops, RTFKT had collaborated with different crypto creators to design objects like bodily sneakers that utilized imagery in different NFT initiatives, together with CryptoPunks and Bored Apes.

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