RTFKT

RTFKT, launched in January 2020, is a diverse, creator-led organization. RTFKT creates one-of-a-kind sneakers and digital assets by combining the latest in game engines, NFT, blockchain authentication, and augmented reality with manufacturing experience. RTFKT is recognized for developing viral sneaker designs, memes, collector exclusives, and metaverse items.

RTFKT has one of the fastest growing communities; they have created one of the world’s fastest-growing NFT communities, with 283.7K followers on Twitter and 155k on Discord. They have taken over the fashion and apparel industry, And are the market leaders for the digital goods sector currently. The RTFKT project was supposed to launch in 2040, but human awareness growth has sped up quicker than expected. We are here right now to expedite our digital future. RTFKT raised $9.5 million in venture capital in less than two years, including a $8 million early round from investors including Andreessen Horowitz, Galaxy Digital, Larry Warsh, and Ledger. Earlier this year, the business teamed with teenage artist Fewocious to generate $3 million in digital shoe sales in under seven minutes.

Background
RTFKT was founded in 2020 by Steven Vasilev, Chris Le, and Benoit Pagotto, making it one of the first platforms to build virtual sneakers. However, following the acquisition, RTFKT launched an official website on the primary platform to spread the word. This is to enlighten the public and dispel past concerns about the transaction. Nike’s CEO, John Donahoe, commented on the recent acquisition. He stated that the acquisition will enable the platform to better serve athletes and innovators. Furthermore, RTFKT’s Benoit Pagotto stated that the acquisition would benefit the company, particularly because of Nike’s expertise. He went on to say that the company is the only one in the world that focuses on innovation and creativity. NFT and crypto enthusiasts are aiming to flourish with this new acquisition.

RTFKT X NIKE PARTNERSHIP
Nike is one of the world’s most well-known brands, and for good reason. Nike, which was founded in 1964, has been producing high-quality footwear for nearly 50 years. They’ve since become one of the most popular shoe companies among both athletes and non-athletes. Nike has recently partnered with other firms to create special lines of footwear, and their most recent partnership is with RTFKT. Nike is no stranger to collaborations, but their recent collaboration with RTFKT is probably one of the more unusual ones. NFTs (or non-fungible tokens) are a sort of digital asset that can be purchased, sold, or traded just like any other cryptocurrency. NFTs, each one is unique and cannot be replicated. This makes them perfect for collectibles like art, music, or in this case – sneakers.

What does this partnership mean?

Nike’s long-term ambition of surpassing its competitors in the metaverse has been confirmed with the launch of the much-anticipated effort. After RTFKT was named the supreme brand of digital fashion in 2021, the shoe giant purchased the company and has subsequently filed numerous metaverse-related trademark applications. Nike Digital remains the fastest-growing section of the company’s marketplace, accounting for 26 percent of total Nike sales, thanks in large part to this new agreement.
RTFKT is a new firm, but they’re already building a name for themselves in the virtual world. Their objective is to design elegant, one-of-a-kind shoes. This latest partnership with Nike is guaranteed to be a hit, combining RTFKT’s virtual fashion with the iconic Nike brand. Nike and RTFKT are an ideal fit for Web3 due to their common conviction in the importance of community and their like-for-like nature. While Nike’s openness to new ideas and different points of view has made them a household name, RTFKT’s major purpose is to introduce streetwear and limited-edition releases to the internet globe.