Metaverse and NFT

RTFKT : The commercial rights on its NFT Clone X unlocked

Owners of Clone X tokens now have access to the 3D files of their avatars and also have marketing rights to their NFT.

Image Source : Momentranks

NFT owners from the Clone X collection launched by startup RTFKT (Nike) now have marketing rights to their tokens.

RTFKT: Creating unique virtual experiences

RTFKT is a studio that leverages the latest in game engines, NFT, blockchain authentication and augmented reality to create one-of-a-kind virtual products and experiences.

The RTFKT team had attracted attention as early as 2020, a few months after the studio’s launch, by selling $3 million worth of digital sneakers with American artist Fewocious in less than 10 minutes.

Founded by Benoit Pagotto, Chris Le and Steven Vasilev, RTFKT redefines the boundaries of physical and digital value. RTFKT collaborates with cryptocurrency creators to design items including virtual sneakers, collectibles and accessories.

By May 2021, RTFKT had completed an $8 million fundraising round. At the time the Facebook group had not yet rebranded itself as Meta and brands had not really started to invest in NFTs and imagine the commercial potential of metaverse.

RTFKT Clone X: The beginning of a new wave 

Earlier this week, RTFKT announced that owners of Clone X tokens now have access to the 3D files of their avatars and also have marketing rights to their NFT.

We believe this will be the beginning of a new wave in the creator economy, connecting collectors and creators around the world, spawning and discovering new talent, content, value, IP’s and brands,” the startup wrote in a blog post.

Acquired by Nike in late 2021, RTFKT specializes in creating digital fashion objects for the metaverse and leverages technologies like blockchain and NFTs. The company launched its Clone X collection last fall in collaboration with Japanese artist Takashi Murakami. CloneX NFTs are currently trading at a low price of 11.5 ETH, or about 13,000 euros at current prices, according to data provided by OpenSea.

Holders of Bored Ape Yacht Club, another highly-rated NFT collection, also have marketing rights, and various types of business based on the popularity of the tokens have emerged. These include the fast food company Bored & Hungry and the DJ duo Escapeplan.

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