“One comparison I’ve heard repeatedly over the last year is that buying NFTs to ‘flex’ on people in the metaverse is just like collecting sneakers, and now Nike is apparently trying to make sure it’s ready for the literal version of that possibility. The apparel giant just announced the acquisition of RTFKT Studios, which it calls ‘a leading brand that leverages cutting edge innovation to deliver next generation collectibles that merge culture and gaming.'” Nike just bought a virtual shoe company that makes NFTs and sneakers.

+ NFTs explained: Why people are spending millions of dollars on JPEGs.

+ ‘Bored Ape’ NFT worth $284,495 accidentally sells for just $2,844.