Nike Looks to Mint NFTs for Metaverse With Acquisition

Nike has caught NFT fever. 

Instead of just buying a CryptoPunk and changing its avatar on Twitter like most companies, however, the athletic brand has acquired an entire project, sending a message to the mainstream that digital collectibles are here to stay. 

Nike has acquired RTFKT, a project that sounds like “artifact” and mints digital sneakers for the metaverse. 

The deal gives Nike a foothold in the burgeoning NFT market as the sports industry continues to take a front-row seat in the digital collectibles niche. 

Nike joins a growing list of sports brands and leagues that don't want to be left behind in the metaverse, including the NBA, whose Top Shot project issues licensed digital collectibles of basketball moments. 

RTFKT is an Ethereum-based project that specializes in digital fashion.