The highly sought digital kicks - which cost between $3,000 and $10,000 - sold out in seven minutes, according to the Wall Street Journal. 'We're acquiring a very talented team of creators with an authentic and connected brand,' Donahoe said in a statement. 'Our plan is to invest in the RTFKT brand, serve and grow their innovative and creative community and extend Nike's digital footprint and capabilities.'ĭuring a March collaboration with 18-year-old crypto artist Fewocious - real name Victor Langlois - RTFKT sold 621 pairs of shoes, netting about $3.1 million. family,' RTKFT - pronounced 'artifact' - tweeted Monday.Īccording to Nike chief executive John Donahoe, the acquisition is to advance the company's 'digital transformation.' did not disclose the purchase amount, but RTFKT's reputation as a sought-after brand that fetches premium prices, with some virtual sneakers selling for up to $10,000 a pair, suggests the deal could be lucrative. Nike is entering the crypto kicks market with its acquisition of virtual sneaker maker RTKFT so it can make digital shoes in the metaverse.
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