summary: RTFKT Studios is a creator-led organization using the latest in-game engines, NFTs, blockchain authentication, augmented reality
content: RTFKT Studios (founded in 2020) is a creator-led organization using the latest in-game engines, Non-Fungible Tokens (NFTs), blockchain authentication, and augmented reality, combined with manufacturing expertise to create one of a kind sneakers and digital artifacts. In May 2021, RTFKT Studios teamed up with Cryptopunks to launch a series of 10,000 sneaker NFTs, one for each corresponding Punk, only available to the owner of the digital avatar. Overview RTFKT Studios is a developer of custom sneakers designed for video game enthusiasts. The company offers limited edition custom sneakers along with a unique virtual version for users to try on and unlock special effects. RTFKT was formed by three friends at the beginning of the Coronavirus (COVID-19) era in January 2020. For many years, RTFKT was an undefined collective, working strictly in the shadows, providing designs and concepts to game companies and a few select fashion brands. In 2020 they formed an entity to expand their services into the public meta market. Chinese New Year Sneakers In 2021, for Chinese New Year, the brand designed a unique, pure gold virtual sneaker, which was auctioned off on the Chinese digital marketplace Treasureland. It eventually sold for $28,000. Collaborations Atari In March 2021, RTFKT collaborated with Atari to create a limited NFT Atari-themed fashion series. The first collaboration is a one-of-a-kind Atari Sneaker that became available for use across multiplayer blockchain games, including Decentraland, The Sandbox, and the upcoming Atari Metaverse. The first item in the fashion series, the limited 1 of 1 "OG Edition" Atari Sneaker, was available for auction on SuperRare. Atari and RTFKT also collaborated with six artists to develop additional versions of the sneaker, all inspired by iconic Atari games. Only 50 of each design were sold in the limited release and would never be minted again. Sales of the six additional editions took place on the blockchain auction site Rarible. Fewocious In February 2021, RTFKT Studios released a collaborative work with the crypto artist Fewocious. It sold $3.1 million worth of product in seven minutes, with each pair of NFT sneakers priced from $3,000 to $10,000. All in all, tokens representing 608 pairs were minted. Jeff Staple In May 2021, RTFKT collaborated with Jeff Staple, an American fashion and graphic designer, to create a limited amount of sneaker Non-Fungible Tokens (NFTs). Together they created three unique NFTs for sale. First up, the "METAPIGEON K-MINUS," listed at $500 USD, includes a virtual chromatic iteration of the Pigeon shoe silhouette in Decentraland along with a physical version of the sneaker and will remain for sale until supplies run out. Similarly, the "METAPIGEON MK," marked at $2021 USD, offers a digitized purple-sliver-gold rendition of the Pigeon sneaker in Decentraland as well as a physical shoe. However, only 100 editions will be available. Rounding out the digital collection, the “METAPIGEON,” limited to 100 editions and priced at $1 USD, exists as a virtual robotic pigeon in Decentraland. Jeff Staple's first-ever collection of NFTs became available to purchase on May 6, 2021, on RTFKT's webstore, and was sold out in seconds. CryptoPunks In May 2021, RTFKT Studios teamed up with Cryptopunks to launch a series of 10,000 sneaker NFTs, one for each corresponding Punk, only available to the owner of the digital avatar. The Space Pirate RTFKT team also worked with MGXS to create a unique website for each punk. Each Punk owner has access to: 1/1 Punk Sneaker NFT, 1 Complementary Physical sneaker forging, 1/1 VXL Portrait, and Metaverse Wearable voxel files. The sneakers became available to owners on June 22nd, 2021. Funding In May 2021, RTFKT raised $8 million in funding in a round led by venture capital firm Andreessen Horowitz, citing plans to grow its team and build out its online marketplace. Other participants in the round included Michael Novogratz's Galaxy Digital, Ledger, Dapper Labs CEO Roham Gharegozlou, Hong Kong billionaire Adrian Cheng's C Ventures, Shrug Capital, NFT artist Fewocious, Genies founder Akash Nigam and several others. 