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Virtual December 13, 2021
By Snobette
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Virtual

Nike Announces Acquisition Of Sneaker And Collectible NFT Platform RTFKT

nike-rtfkt
Courtesy of Nike

December 13, 2021. Leave a Comment

Nike continues its march into virtual spaces with news it’s acquired London-based RTFKT (pronounced artifact), a non fungible token (NFT) company focused on creating sneakers designs, memes and collectible exclusives targeting the Gen Z consumer.

Commenting on the acquisition, Nike CEO John Donahoe stated, “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.”

RTFKT was founded in January 2020 by Benoi Pagotto, Chris Le and Steven Vasilev. A recent RTFKT avatar collection made in collab with Takashi Murakami has racked up nearly $55.4 million in transaction volume. The platform also made a big splash when it partnered with 18-year-old artist FEWOCIOUS on a capsule of collectible sneakers, which boasted over $3 million worth of digital sneakers in under seven minutes.

While the price Nike paid hasn’t been made public, the company was valued at $33 million in May after raising $8 million in funding led by investor Andreessen Horowitz, valuing the company at $33.3 million. The purchase follows on the heels of Nike partnering with Roblox for a dedicated space within the game.

Prior to purchasing Roblox, Nike filed several trademarks laying the groundwork for branded sneakers and apparel. Nike has also posting job listings seeking people with expertise in virtual design. As well, the Beaverton, Oregon-based company has hired Andrew Schwartz as director of metaverse engineering.

The purchase comes amidst plunging crypto prices with Bitcoin dropping below $46,000 in Monday, the lowest it’s been since early October.

News Nike Virtual FEWOCIOUS NFT Roblox RTFKT

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In 'Summer Renaissance' from Beyoncé's Renaissanc In 'Summer Renaissance' from Beyoncé's Renaissance album, the lyrics" This Telfar bag imported, Birkins, them shits in storage." Is creating a bit of a stir between the pro and anti Birkin dolls. 

After The Cut published a story titled "Our Condolences To The Birkin" the internet got into their feelings. 
 
Tiktoker tastechidera weighs in on the first video, then on the second clarifies her stance as not anti Telfar.

The last video is by stylist Ebony Brown ( TiKTok fashionablyfearless) who does not support owning a Birkin.

What do you think?
At Project LV, we asked Jeffrey Campbell’s lovel At Project LV, we asked Jeffrey Campbell’s lovely and talented creative director @bird_cam to select the label’s most of-the-moment shoe and she selected this Bow Down mule in multiple colors. ✨✨✨
#IsseyMiyake has passed at age 84. The founder of #IsseyMiyake has passed at age 84. The founder of the Issey Miyake Group and the Miyake Design Studio, Miyake per his team requested there be no funeral or memorial service.

Know for his 1983 Pleats Please collection, L'Eau D'Issey fragrance, the Bao Bag, to name a few, Miyake's design legacy is meaningful. 

Expressing of view of fashion that was artful and timeless, he once said, "Anything that’s in fashion goes out of style too quickly. I don’t make fashion. I make clothes."

Eschewing a classust view on fashion, in another exchange, he said, "What I wanted to make wasn’t clothes that were only for people with money. It was things like jeans and t-shirts, things that were familiar to lots of people, easy to wash and easy to use."

🕊🕊🕊
Always dope, @renellaice 's official campaign for Always dope, @renellaice 's official campaign for her @icestudios.shop x @asics_sportstyle Gel Kayano 14 sneakers exudes summer in the city vibes.

IYKYK

The sneakers drop on August 12th on icestudios.shop.
SavageXFenty won the Femmy 'Brand Disruptor Award. SavageXFenty won the Femmy 'Brand Disruptor Award. The annual awards, honor excellence in the intimates apparel industry.The gala ceremony was at Cipriani, NY on August 2nd, 2022.

The brand CEO, Robyn Rihanna Fenty made an acceptance speech for the occasion.

@priscillaono on face! 

#rihanna
Seeded pairs of ASICS and Ice Studios by Renell Me Seeded pairs of ASICS and Ice Studios by Renell Medrano sneakers have begun to surface, so the launch should be soon.

The baby blue shoe made its debut as worn by an A$AP Ferg in an exchange with @thepeoplegallery_. In the clip Ferg noted the pair he was wearing was unreleased.

Launched in 2021, Ice Studios has been embraced by New York’s cool creative class with limited edition capsules including baby tees, cargo skirts, beanies and sequin bikinis.

Last year, it was announced Angelo Baque had formed the Asics Collective, a group of creatives including Medrano plus Denim Tears founder and Supreme creative director Tremaine Emory, Procell co-founder Jessica Gonsalves and BornxRaised founder Spanto.

📸@rams_kay
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