{"id":364,"date":"2021-12-16T00:19:18","date_gmt":"2021-12-16T00:19:18","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=364"},"modified":"2021-12-16T00:19:19","modified_gmt":"2021-12-16T00:19:19","slug":"nike-bought-rtfkt-now-its-nfts-are-trading-at-a-premium","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=364","title":{"rendered":"Nike Bought RTFKT. Now Its NFTs Are Trading at a Premium"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<h3>Key Takeaways<\/h3>\n<p>RTFKT NFTs have jumped in value since Nike announced it had acquired the brand this week.<br \/>\nThe floor price for a Clone X Mint Vial has jumped from 3.8 to 11 Ethereum, and some rare Clone X NFTs have sold for significantly higher.<br \/>\nRTFKT is a digital sneaker brand backed by Andreessen Horowitz. It&#8217;s partnered with NFT mainstays like FEWOCiOUS this year. <\/p>\n<p>Share this article<\/p>\n<p>Since Nike announced its acquisiton, the floor price for an RTFKT Clone X avatar passes has jumped to roughly $41,000.\u00a0<\/p>\n<h2>Nike Gives Boost to RTFKT NFTs\u00a0<\/h2>\n<p>Nike\u2019s entry into the Metaverse is having a big impact on RTFKT NFT prices.\u00a0<\/p>\n<p>The sportswear behemoth announced it had bought RTFKT in an undisclosed deal Monday, adding to a small acquisition portfolio that also includes Air Jordan and Converse. Since the announcement, the prices for RTFKT\u2019s top items have rallied.\u00a0<\/p>\n<p lang=\"en\" dir=\"ltr\">RTFKT is now a part of the NIKE, Inc. family. \ud83c\udf10\ud83d\udc41\u200d\ud83d\udde8 pic.twitter.com\/5egNk9d8wA<\/p>\n<p>\u2014 RTFKT Studios (@RTFKTstudios) December 13, 2021<\/p>\n<p>RTFKT recently dropped a collection of Clone X Mint Vial NFTs, which can be used to mint a Clone X\u2014an avatar character created by RTFKT and Takashi Murakami. One Mint Vial traded at 3.8 Ethereum throughout last week, but prices have quickly risen since Nike dropped its announcement. The cheapest Mint Vials are currently selling for just over 11 Ethereum on the NFT marketplace OpenSea, or around $41,000. The Clone X Mint Vials are currently the second most traded OpenSea collection with over 13,300 ETH in volume.\u00a0<\/p>\n<p>The Clone X NFT collection, which features the avatars themselves rather than a mint pass to get hold of an avatar, is also trading at a premium. Clone X is currently the most traded OpenSea collection by some distance with over 32,100 ETH in volume, and the current floor price for a piece is 4.8 Ethereum, or just under $18,000. The average sale price, meanwhile, has increased to 10.2 Ethereum today. Some rarer pieces have sold for significantly higher than the floor price this week: one piece went for 288 Ethereum worth over $1 million yesterday, and several others have sold for 100 Ethereum or more.\u00a0<\/p>\n<p>Besides the Clone X pieces, several other RTFKT collections have seen an uptick over the last few days. A collection of NFTs inspired by LarvaLabs\u2019 iconic CryptoPunks series and set of bonus items have also jumped in value this week.\u00a0<\/p>\n<p>Announcing the acquisition Monday, RTFKT said that Nike had been a key source of inspiration for the digital sneaker brand. \u201cNike is the only brand in the world we always looked up to and got inspired by when starting RTFKT,\u201d a tweet read. RTFKT launched in 2020 and has quickly found a place at the forefront of the NFT space. It held an $8 million seed funding round led by Andreessen Horowitz in May and has released sneakers in partnership with FEWOCiOUS, one of the most successful NFT artists.\u00a0<\/p>\n<p>In Nike\u2019s announcement of the acquisition, the firm\u2019s President and CEO John Donahoe said that it was planning \u201cto invest in the RTFKT brand, serve and grow their innovative and creative community, and extend Nike\u2019s digital footprint and capabilities.\u201d However, whether acquiring RTFKT is the full extent of Nike\u2019s Metaverse plans remains unclear. Nike\u2019s interest in NFTs was revealed last month after the firm filed several patents suggesting it was looking into digital apparel.\u00a0<\/p>\n<p>Nike\u2019s acquisition is only the latest example of a major brand jumping into the crypto space following Facebook\u2019s pivot to the Metaverse.\u00a0Earlier this month, Adidas announced it had joined the Bored Ape Yacht Club as part of a collaboration with the hit NFT collection, Punks Comic, and gmoney. Adidas also dropped a series of digital items via Punks Comic\u2019s MetaHero project and posted a link to an app for limited drops on its Metaverse landing page, possibly hinting at a merchandise collaboration in the pipeline. If Nike follows its main competitor\u2019s lead, the brand could soon be revealing more Metaverse-focused plays of its own.\u00a0<\/p>\n<p><em>Disclosure: At the time of writing, the author of this feature owned ETH and several other cryptocurrencies.\u00a0<\/em><\/p>\n<p>Share this article<\/p>\n<p>The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.<\/p>\n<p>You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.<\/p>\n<p>See full terms and conditions.<\/p>\n<h3 class=\"title\">Nike Acquires Non-Fungible Sneaker Studio RTFKT<\/h3>\n<p>\nNike announced today that it has acquired RTFKT, a virtual sneaker design company and a studio for non-fungible tokens. Nike Acquires RTFKT RTFKT was founded in 2020 to create virtual&#8230; <\/p>\n<h3 class=\"title\">What is Rarible: A DAO for NFTs<\/h3>\n<p>\nWhat was once dismissed as a silly and expensive sector,\u00a0NFTs\u00a0give creators access to global markets in a way that\u2019s never been possible before, and it\u2019s all thanks to blockchain.Those familiar&#8230; <\/p>\n<h3 class=\"title\">Nike Filings Suggest It Is Ready to Explore NFTs<\/h3>\n<p>\nNike has filed several requests with the U.S. Patent and Trademark Office for branded virtual goods, including shoes, clothing, and accessories.\u00a0 Nike Prepares For the Metaverse Nike could be the&#8230; <\/p>\n<h3 class=\"title\">Big Brands Are Chasing Crypto and Metaverse Hype<\/h3>\n<p>\nMulti-billion dollar brands are rushing into the Metaverse by purchasing NFTs, buying ENS domains, and adopting crypto-speak. Budweiser and Pepsi Get Into NFTs In August, during the peak of so-called&#8230; <\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptobriefing.com\/nike-bought-nft-now-its-nfts-are-trading-premium\/?utm_source=main_feed&#038;utm_medium=rss\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways RTFKT NFTs have jumped in value since Nike announced it had acquired the brand this week. The floor price for a Clone X Mint Vial has jumped from 3.8 to 11 Ethereum, and some rare Clone X NFTs have sold for significantly higher. RTFKT is a digital sneaker brand backed by Andreessen Horowitz. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":365,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[4],"tags":[],"class_list":["post-364","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/364","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=364"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/364\/revisions"}],"predecessor-version":[{"id":366,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/364\/revisions\/366"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/365"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}