Nike acquired RTFKT, one of the first movers in web3 fashion space. They created NFTs for large brands like Nike and Adidas to be used on their platforms which is what led them being labeled as "first-mover" within this industry! The platform is giving commercial rights to holders of CloneX NFTs, which will allow them to create derivative projects, mint fan art, and sell merchandise featuring their avatars.
This move provides more flexibility and opportunities for those who hold CloneX NFTs, and extends the reach of Nike's brand into the world of NFTs. It also underscores Nike's commitment to supporting the growth of the NFT space.
As the NFT market continues to grow and evolve, we expect to see more brands following Nike's lead in embracing this new technology.