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Home ⤏ NFT Tutorials ⤏ What is RTFKT?

NFT Tutorials


WHAT IS RTFKT?

November 5, 2022 - Updated: December 1, 2022Humano


Thanks to the metaverse, there has been a lot of hype around digital assets and
artifacts during the last couple of years. Many firms have joined the trend to
create platforms and spaces and, as the result, encourage the growth and sales
of digital products. Many firms believe that the metaverse will revolutionize
blockchain technology, and it may drive more people into the industry. RTFKT
(ARTIFACT) is one of the latest firms that has joined the trend to motivate the
creation of digital arts with the introduction of RTFKT crypto project. In this
article, we will be looking into the key details of the RTFKT project to
understand how it helps the digital market be more creative.

Table of Contents hide
What is RTFKT?
A brief history of RTFKT NFTs
FEWOCiOUS x RTFKT
Clone X project
RTFKT x JeffStaple
RTFKT x Nike Dunk Genesis CRYPTOKICKS
Nike acquires RTFKT
CryptoKicks NFTs
Will CryproKicks NFTs be successful?
Is it worth getting an RTFKT NFT?


WHAT IS RTFKT?

RTFKT Studios (pronounced “Artefact”) is a digital fashion and collectible
company founded in January 2020 by Benoit Pagotto, Chris Le, and Steven Vasilev.
RTFKT describes itself as a creator-led organization that includes a community
of collectors, investors, artists, gamers, and fans.

In its short presence in the NFT world, RTFKT has created items from digital
sneakers to collectible avatars. These items live on the blockchain as NFTs and
can be used in gaming and augmented reality.

At present, its community goes active on Twitter, and in its 157,000-member
Discord server. RTFKT Discord server is known to host channels dedicated to
drops, digital art tutorials, crypto gossip, memes, and exercise. Their ranks
have improved after a series of high-profile (and high-grossing) collaborations.
Their CloneX avatars in collaboration with Japanese pop icon Takashi Murakami
have earned more than $500 million in secondary trades. Besides, RTFKT’s digital
sneakers in collaboration with blockchain-native artist FEWOCiOUS sold for $3.1
million within five minutes of release.

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A BRIEF HISTORY OF RTFKT NFTS



As we already mentioned, RTFKT has been active in NFT market since 2020. In its
short lifetime in the digital market, RTFKT has launched some of the well—known
NFT projects in collaboration to some other famous NFT names. It becomes
successful in the market by combining aspects of sneaker culture and streetwear
with NFTs.  Let’s have a closer look at their NFT collections:


FEWOCIOUS X RTFKT



The first NFT project released by RTFKT was in collaboration with up-and-coming
NFT artist FEWOCiOUS. The NFT collection includes digital assets that feature
both shoes and digital characters. Each NFT is a video that shows a 360-degree
view of the product. The NFTs are painted in eye catching, vibrant colors, and
can be used in Decentraland as well. The project raised over $3 million in just
minutes after the release, early 2021.


CLONE X PROJECT



One of the major releases by RTFKT in collaboration with Takashi Murakami is
Clone X project, launched in November 2021. Murakami is an NFT designer, working
with brands such as Louis Vuitton. The CloneX collection includes 20,000 unique
avatars with a wide variety of defining characteristics. The avatars have a
unique 3D look and lots of complicated details. The project got hot when RTFKT
announced that the CloneX avatars would be metaverse-ready, meaning that users
can show off their avatars in virtual worlds. Among all is the legendary tennis
player Serena Williams who purchased a Clone X directly from RTFKT.


RTFKT X JEFFSTAPLE



RTFKT had another major release in collaboration with Jeff Staple. Staple is
famous for working with Nike Inc. (NYSE: NKE) on pigeon-themed Nike Dunks. The
collaboration with Nike led him to create his own brand, Staple Pigeon. RTFKT
also found it special to follow Staple and create a pigeon-themed NFT project.
The project offers both pigeons and sneakers. The NFTs from the project allow
owners to show off their shoes or pigeons in the metaverse game Decentraland.


RTFKT X NIKE DUNK GENESIS CRYPTOKICKS



The most important collaboration of RTFKT seems to be with Nike, a multinational
corporation engaged in the design, development, manufacturing, marketing and
sales of footwear, equipment, accessories, and services. Nike acquired RTFKT to
enter the s-sport and take a share in the digital world by developing CryptoKick
NFTs and AR Nike Hoodie NFTs. In the following, we will discuss the projects in
more details.



In addition to these three main projects, RTFKT has also released several other
smaller projects. it cooperated with RIMOWA to conduct a new line of phygital
baggage and NFTs in October 2022. RTFKT also developed wearable metaverse
perfume in corporation with Byredo, the luxury fragrance brand.

Last but not least, Murakami and RTFKT teamed up with Crown collection.
Altogether, they created 4 limited-edition Clone X Chains NFTs, which are only
available to Murakami and RTFKT team.


NIKE ACQUIRES RTFKT



In December 2021, Nike acquired RTFKT. It was the first time a major brand had
made a large commitment to crypto. Both RTFKT and Nike were on news for a while.
John Donahoe, Nike’s CEO, said that the acquisition will “extend Nike’s digital
footprint and capabilities.”

This acquisition can be start to crypto integration. Many other large brands
like Adidas (OTCMKTS: ADDYY) are trying to enter the crypto world and have a
share of what may be the future. To do that, Nike and RTFKT purchased several
‘.eth’ section titles to go live on Ethereum Name service NFTs. The latest named
“dotswoosh.eth” cost 19.72 ETH for RTFKT and is visible on its OpenSea account.


CRYPTOKICKS NFTS



RTFKT was acquired by Nike on December 13, 2021. This acquisition aimed to serve
athletes and creators in the field of sport, creativity, gaming and culture. In
April 2022, digital fashion brand RTFKT Studios revealed its new collection of
customizable NFT sneakers and wearables, Nike CryptoKicks. This collection was
the first big sneaker release by RTFKT since Nike acquired it in December.

The owners of RTFKT Monolith NFT, a token that includes 12,950 pieces of the
Monolith, were first to access to the digital sneakers and skins. The holders of
Clone X avatars also received pieces of Monolith via an airdrop in February
2022.

The collection was launched on NFT marketplace OpenSea. The digital sneakers
generate approximately 3,100 Ethereum in trade volume at release. Besides, a
collection of ‘Skin Vials’ that is used to customize the sneakers also sold for
another 2,500 Ethereum in trade volume.

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WILL CRYPROKICKS NFTS BE SUCCESSFUL?

Nike sponsors over 16,000 athletes worldwide and very few of them own a single
NFT, which means there is a wide potential for NFT drops, new innovations, and
new NFT investors. It seems that Nike is beginning a massive cultural shift
based around NFTs, sports, and gaming. Choosing the best, Nike started the road
with RTFKT that has already shown its creativity and success in the world of
NFT.

Gaming seemed to be one of the focal points of collaboration with RTFKT. Though,
it does not seem to be a P2E game this time since Nike tries to move into
e-sports wearables. Nike seems to plan to support e-sports teams and providing
them with Nike branded wearables to use in-game in near future. Metaverse is
expanding to cover all aspect of life, and there must be a share of sponsorship
for e-sports teams by companies like Nike.


IS IT WORTH GETTING AN RTFKT NFT?

At the time being, RTFKT NFTs are very successful. They have a great support
from their communities on Twitter and Discord, which adds to their value. On the
other hand, the Nike acquisition and collaborations with major artists have made
RTFKT more attractive and increase their NFT prices. Therefore, it could be
stated that RTFKT is a unique NFT developer team that is bringing sneaker
culture to the crypto world.

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About Humano

He is a freelance writer based in Turkey. He loves NFTs, football, film and
technology.


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