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Nike’s CloneX NFTs paves way for the company to enter the NFT industry

Nike said that it has acquired multimedia creator RTFKT Studios in late 2021. Nike wants to establish a name for itself in the metaverse with this new asset. The commercial rights of non-fungible tokens (NFTs) have been obtained by Nike and RTFKT. Owners of NFTs can create fan art, produce items based on avatars, and start derivative enterprises. Nike’s CloneX NFTs avatar line, which debuted a month before word of the purchase reached the public, marked the company’s entry into the NFT industry. The collection includes 20,000 3D NFT avatars referred to as “Clones.”

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