Nike has acquired virtual sneaker maker RTFKT to make NFT’s wearable accessories in the metaverse.
Nike, president and CEO, John Donahoe, said: “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.”
Donahoe later affirmed that this investment in the RTFKT brand will extend Nike’s digital footprint and capabilities.
Although Nike did not reveal the terms of its deal, this announcement is sure to deliver next generational collectibles that merge culture and gaming together.
As reported by The Verge, buying virtual NFT shoes is being used to “flex” on people in the metaverse just as some people have tried to do with actual sneakers.
“Flex” culture is about being seen with goods that are known to be expensive or rare and showing them off as a kind of affirmation of status. A rather vapid and arbitrary attempt to gain attention.
Total cultural denigration aside, the digital 3D technology behind this metaverse development is an unquestionably transformative innovation.
These shoes can be worn in the metaverse in a series of digital 3D worlds which can be accessed through a computer or for the most immersive experience virtual reality goggles.
In this immersive 3D digital space, people would be able to meet and connect as they would ordinarily in person.
This move by Nike is a fascinating development that could become a watershed moment for metaverse engagement, but it comes with a hefty price tag.
Previously RTFKT’s virtual shoes have cost between $US3000 ($A4200) to $US10,000 ($A14,000).
A bloated figure that’s even more impressive when you consider that people will never physically wear or even touch the product.
RTFKT is now a part of the NIKE, Inc. family. 🌐👁🗨 pic.twitter.com/5egNk9d8wA
— RTFKT (@RTFKT) December 13, 2021
While many brands have confidence in people investing in digital fashion, comments on The Australian were less believing.
Ridden with sarcasm and laden with first-grade spelling mistakes, people joked about selling digital tulips or virtual food.
One comment went so far as to say, “Just when you thought the World couldn’t get any more stupid, new depths are plunged.”
To the naysayers, prices may be exorbitant but the technology and ideas behind it aren’t going anywhere.
There are always pessimists that downplay emerging opportunities that instigate change.
“The automobile is a fad, a novelty. Horses are here to stay.” – President of Michigan Savings Bank (1903)
“Remote shopping will certainly flop. It has no chance of success.” – Time Magazine (1966)
“The internet won’t change anything” – Newsweek (1995)
“Bitcoin, it seems like a scam.” – Donald Trump
Great ideas are never popular, but wisdom dictates to focus on possibility rather than ubiquitous popularity.
