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The A16Z sneakers were made to celebrate a round of funding.
The image is called RTFKT.
I have heard that buying NFTs to "flex" on people in the metaverse is just like collecting sneakers, and now Nike is trying to make sure it's ready for that. The apparel giant just announced the acquisition of RTFKT Studios, which it says is a leading brand that uses cutting edge innovation to deliver next generation collectibles that merge culture and gaming.
In February, a collaboration with teenage artist FEWOCiOUS to sell real sneakers with virtual ones netted over $3.1 million in just six minutes. This was around the same time when most of us were hearing about NFTs for the first time, as Grimes sold $6 million worth of digital artwork. I don't know if any of these digital items are worth as much now as they were when they were first sold, or if they have recently sold for less than their original prices.
RTFKT is moving forward, and just yesterday it launched a collaboration with a Japanese artist, offering up a number of metaverse-ready digital.
NFTs allow you to buy and sell ownership of unique digital items and keep track of who owns them. NFT stands for non-fungible token, and it can contain anything digital, including drawings, animated GIFs, songs, or items in video games. The NFT can be one-of-a-kind, like a real-life painting, or one copy of many, like trading cards, but the blockchain keeps track of who has ownership of the file.
Nyan Cat and the "deal with it" sunglasses are being put up for auction, as NFTs have been making headlines recently. There is a lot of discussion about the massive electricity use and environmental impacts of NFTs. If you still have questions, you can read through our FAQ.
One of the ways NFT owners can verify their purchases is by linking their Metamask wallet, which is one of the ways you can play games in virtual reality.
This is the kind of vision that Nike is buying into, crediting the company's founder and co-CEOs, Chris Le and Steven Vasilev, with using the latest in game engines, NFTs, and augmented reality to create one of a kind virtual products and experiences
While announcing the deal, Nike positioned the lightning bolt-style logo of RTFKT alongside its own recognisable swoosh, Jumpman, and Converse marks. The brands have decades of history, built on high-level athletic endorsements, distinctive designs, and a grassroots culture that actually exists in the real world. RTFKT was founded in January 2020. The human development in consciousness has accelerated faster than anticipated. We're here to accelerate our digital future.
Related.
The concept of NFTs is so funny that the man can't stop laughing.
