BitPay also integrated Shiba Inu, one of Dogecoin’s competitors, earlier this month. However, the name of this cryptocurrency was not used in the press release. Also in April, Nexon bought 100 million worth of Bitcoin at $58,000 to protect the purchasing power of cash assets, the largest crypto investment for a company listed on the Tokyo Stock Exchange.
Bitcoin, which holds the title of being the largest cryptocurrency, is currently trading just below the $ 49 thousand level. However, it is struggling to recover above the $52,000 resistance level. Also, Nexon America’s Kenny Chang says the addition of crypto payments is not related to the parent company buying Bitcoin.
Interest in the cryptocurrency and NFT market is growing!
The entire blockchain market, especially crypto and NFTs, which seem to be in the center of attention this year, continues to seize every opportunity it finds to include games and players, as in every field in our lives.
Electronic Arts CEO Andrew Wilson predicted during an earnings call in early November that the idea of “play to win” would be the future of cryptos and NFTs in the gaming world. French gaming giant Ubisoft also made a strong NFT move earlier this month, which was met with harsh criticism.
Meanwhile, Steam banned NFTs and blockchain games in October. Also, group chat platform Discord had to abandon its plan to integrate Ethereum after facing a huge backlash from its community. Today, the number of people who do not know the Nike brand is almost non-existent. The company is one of the few companies in the world in the production of sportswear and accessories, especially shoes. It also has companies such as Air Jordan and Converse under its roof.
It has been revealed that Nike, whose net income has reached $2 billion in recent years and whose total assets exceeded $22 billion, has entered the crypto industry. Of course, we know that the company has been working closely with many sectors, including technology, for many years. But it was a first for him to directly buy an NFT collection studio. The acquisition announcement came at a time when RTFKT (pronounced “artifact”) was on the rise. The company states that it intends to continue this period of rise and growth with a great acceleration. We see that business deals with a big company like Nike are generally quite profitable. Because Adidas also announced a partnership with the NFT project Bored Apes Yacht Club earlier this month.
In addition, RTFKT has an extensive avatar partnership with CloneX artist Takashi Murakami. In this way, according to CryptoSlam, the company reached a transaction volume of approximately $65 million last month. Therefore, the partnership with Nike seems to only increase the speed of the rising star, as RTFKT said.
RTFKT co-founder Benoit Pagotto said in a statement on the subject:
This is a unique opportunity to build the RTFKT brand. We’re excited to leverage Nike’s core strength and expertise to build the communities we love.
Additionally, RTFKT is currently working collaboratively with various crypto artists to design items such as physical shoes on other NFT projects such as CryptoPunks and Bored Apes, in addition to creating their own NFT drops.
Nike’s new target is Metaverse!
Nike has filed several applications with the U.S. Patent and Trademark Office in recent months because it wants to trademark its virtual products. Allegedly, the company has 7 different trademarks and has a patent claim. These include the Just Do It slogan, Swoosh, Air Jordan and Jumpman logos. It is said that the company plans to sell its products as NFT in the virtual environment in the coming days. Nike also wants to prevent unauthorized use. So to speak, if there’s a piece of cake cut in the middle, he doesn’t want anyone else to eat his share.
In addition, looking at the company’s job postings, we see that it plans to hire virtual product designers. It is said that these people who will be included in the team will collaborate with the material design team at Nike. Their aim will be to create 3D models to be found in both NFT and Metaverse.