Nike has made a bold entrance into the metaverse.
On Dec. 13, the sporting items behemoth announced that it has acquired RTFKT, an NFT studio that blurs the lines between digital and physical through collectible sneakers and virtual fashion. The deal terms were not disclosed.
CloneX NFTs Surge After Acquisition
Following the announcement, secondary sales of CloneX NFTs skyrocketed as traders rushed in. The floor price of the collection climbed to around 6 ETH, doubling from 3 ETH before the news broke.
An OpenSea user known as “Criminal” struck gold, minting and selling a rare ‘split’ CloneX avatar #4939 for 200 ETH (approximately $760K) within hours.
Rumors about Nike’s metaverse strategy had been swirling since October, when the company filed several patent applications for downloadable virtual goods featuring its iconic Swoosh and Jordan logos.
Early Challenges for RTFKT
It hasn’t been all smooth sailing for RTFKT. The CloneX drop two weeks earlier, began as a Dutch auction but was paused mid-sale following alleged attacks on the project’s website.
The remaining avatars were then released at a fixed price of 2 ETH — frustrating early buyers who paid more.
Over the weekend, the project faced more criticism after users discovered that their high-priced NFTs came with limited commercial rights, sparking debate across X (formerly Twitter).
Market Reactions and Skepticism
While many celebrated the partnership, some collectors remained skeptical. At a floor price of 6 ETH, the cheapest “Nike” NFT is already more expensive than some of the brand’s most coveted physical sneakers.
John Donahoe, Nike’s President and CEO, highlighted the strategic nature of the deal:
“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.”
Final Thoughts
Nike’s acquisition of RTFKT marks a pivotal moment for the NFT and fashion industries. By bridging the physical and digital worlds, the company is positioning itself at the forefront of metaverse innovation — but it’s also facing new challenges around rights, pricing, and community trust.
FAQs
Q1: What is RTFKT?
RTFKT is an NFT and digital fashion studio known for its innovative virtual sneakers and collectibles.
Q2: Why did CloneX prices increase?
Prices surged after Nike announced its acquisition of RTFKT, boosting demand and confidence in the project.
Q3: How much did the rare CloneX avatar sell for?
A rare ‘split’ CloneX avatar #4939 sold for 200 ETH (about $760,000).
Q4: Are there commercial rights for CloneX NFT holders?
Holders have limited commercial rights, which sparked debate in the NFT community.
Q5: Why is this acquisition significant for Nike?
It signals Nike’s deeper move into the metaverse and its plan to blend physical products with digital experiences.
