Nike Buys RTFKT

Nike has announced the acquisition of RTFKT (pronounced "artifact") Studios as the sneaker giant steps into the metaverse. This design studio is behind the NFT project called CloneX which has made over $65 million in transaction volumes in just three weeks.

Here's how the CloneX project works. You head to their profile on OpenSea, buy a Mint Vial (an incubation chamber of sorts) which then allows you to redeem a CloneX Avatar on their cool website. You never really know which Avatar you're going to get, but you can be sure that if you buy a more expensive vial you will get a rarer avatar.

CEO John Donahue said this new partnership hopes to "accelerate Nike's digital transformation and allows us to serve athletes and creators at the intersection of sport, creativity, gaming, and culture". The real question is what should Nike's first NFT be? I would totally hop on some Jordan's. It's a new world!