Project NFT Spotlight: RTFKT Pushes The Boundaries Of The Metaverse

whThe world is expanding, and DraftKings grows with it. As NFTs continue to grow, these daily articles will serve as a hub for the latest news and notes in the space.

If you’re new to the metaverse, check out my brief description of what NFTs are and how they work. For those looking to get into the game, read my article on setting up a MetaMask wallet.


From sneakers to virtual avatars, no company has ventured into as many areas of the metaverse as RTFKT.

The company, which is pronounced “artifact”, was founded by Benoit Pagotto, Steven Valisev and Chris Le in early 2020. Their original game plan was to sell virtual sneakers and build hype through a variety of collaborations leading. For example, a partnership with an artist PEUVOCIOUS selling a set of virtual and real-life sneakers brought in over $3.1 million in just seven minutes. Celebrities like Elon Musk have also bought into the hype and bought pairs.

After seeing the impact RTFKT had on the sneaker community, Pagotto and company were determined to grow. This is where Clone X comes in.

Clone X

In November 2021, RTFKT partnered with Japanese artist Takashi Murakami to create an NFT collection of 20,000 avatars called Clone X. Clones give their holders utility, including access to the RTFKT ecosystem.

RTFXT’s unique ecosystem revolves around a virtual world in which humans no longer exist in their organic form, but are instead represented by a digital avatar. The process of self-expression is done by customizing your clone and traveling through virtual galaxies, while participating in a variety of experiences.

Pagotto talked about RTFKT’s vision for his universe and how Clone X was the starting point in an interview with Forbes, stating, “Clone X is the start of a complete ecosystem for RTFKT, an evolution of our brand that we believe will redefine the way you think about fashion brands, going beyond ‘clothing’. The fact that we are developing everything in 3D and giving access to 3D files to future clone owners is a game changer in that not only will people be able to express themselves with their avatars, but we envision a new type of relationship being formed. between owners and 3D creators who will create bespoke content for avatars, replicating what we’ve seen with Fortnite 3D models ripped from mixer creators, creating content for Twitch streamers and YouTubers. It’s a complete, live-built ecosystem, and the avatars are just the tip of the iceberg.

Clone X’s launch wasn’t as smooth as RTFKT would have hoped, but the project finally took off after a few minor hurdles. At the time of this article, Clone X has amassed 149.2 thousand ETH in traded volume – approximately $442,595,832.00 – making it the fourth most traded NFT collection of all time, only behind CryptoPunks, Bored Ape Yacht Club and Mutant Ape Yacht Club.

Clone X owners have access to a wide range of utilities as the universe of RTFKT expands. This includes virtual and physical goods obtained through the forging process, as well as priority access to new features.


Acquired by Nike

On December 13, 2021, RTFKT made headlines after being acquired by Nike. The world’s #1 shoe company considered RTFKT a way to get into the metaverse because partnering with a company with known experience in virtual sneakers minimized risk. Several co-founders of RTKFT expressed their enthusiasm for Twitterstating that Nike had always been their inspiration.

Nike Chairman and CEO John Donahoe outlined Nike’s vision for the partnership, saying, “This acquisition is another step that accelerates Nike’s digital transformation and enables us to serve athletes and creators. at the intersection of sport, creativity, gaming and culture… Our plan is to invest in the RTFKT brand, serve and grow their innovative and creative community and expand the digital footprint and capabilities from Nike.

Nike and RTFKT have partnered on several projects as the company’s universe grows, including the popular MNLTH airdrop for Clone X holders. The partnership benefits both companies, allowing Nike to expand its reach. in the metaverse while providing a mainstream outlet for RTFKT in the real world.

Floor price history


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icy tools Breaks down the all-time low, average price, and volume for Clone X, MNLTH, and PodX in the charts above.

twitter user @mekanz23 highlighted Clone X’s product roadmap, showing how holders who got started early on the project were able to turn 2 ETH into 38 ETH:


Roadmap

Limited information has been shared on the Clone X roadmap, but milestones have been outlined on the project roadmap. official site. The Clone.meta vault has already been built and stores clones for holders. A variety of virtual wearables are available for owners to customize their clones.

Two airdrops were distributed to Clone X holders. The first was MNLTH, which was produced from the RTFKT and Nike deal. Those who were eligible for this airdrop had to hold a Mintvial, a Clone, and a Space Pod. Since that drop, MNLTH has been immensely popular, currently enjoying a low of 6.14 ETH on OpenSea. The second airdrop was PodX, which was distributed to Space Pod holders.

So what exactly are Space Pods? These NFT galleries were created for all clone owners and are the start of the RTFKT ecosystem. Features planned for these pods include multiplayer capabilities, full pod customization, and more. The company is currently exploring potential avenues to expand its ecosystem.

The latest addition to RTFKT’s roadmap was another partnership with Murakami. Clone X droppers have received whitelisted access from Murakami’s latest collection, The Flower. Find the roadmap of this unique project here.

As RTFKT continues to expand its reach with the help of Nike, there really is no cap on what the NFT powerhouse can accomplish. Stay tuned for updates as the company’s virtual ecosystem grows.


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Project NFT Spotlight: RTFKT Pushes The Boundaries Of The Metaverse


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