Nike acquires virtual products company RTFKT

Nike and RTFKT logos

Sportswear brand Nike has acquired virtual products company RTFKT.

RTFKT (pronounced “artifact”) launched in January 2020 and is described as a metaverse company. It uses game engines, NFTs, blockchain authentication and augmented reality (AR) to create digital products, such as sneakers.

The company says it is known for creating viral sneaker designs, memes and collectible exclusives. Customers who purchase digital products on RTFKT can pay using Ethereum cryptocurrency. The company’s website also supports digital wallets including Bitski and Metamask.