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Dec 14 2021, 08:25 GMT
The acquisition of RTFKT by Nike represents a watershed moment for the crypto and fashion industries. The acquisition collides the nascent technopunk digital collectible ecosystem with a mainstream apparel powerhouse. RTFKT is a highly disruptive digital apparel brand, which sits at the nexus of powerful technology trends – blockchain technology, augmented reality and digital design – to offer unique virtual collectibles for fashion forward consumers (avatars). The growth of the ‘digital identity’ has prompted an arms race across the metaverse. For fashion industry participants, this may represent a trojan horse in proactively and creatively addressing sustainability ambitions.