RTFKT is the new brand "born in the metaverse" and for the metaverse. It offers a new vision of the future of fashion (especially sneakers) and identity in the metaverse. It all started in March 2020, when the Frenchman Benoit Pagotto (@benit0), international figure of the metaverse and business developer in gaming and e-sport, created the brand RTFKT (pronounced artifact) with two co-founders.

RTFKT uses blockchain (NFT), augmented reality and generative AI to sell virtual fashion items that can be used in video games or virtual worlds. These same items can sometimes also be produced physically.

Some analysts compare RTFKT's runaway success to the one of the brand Supreme. Since its inception, RTFKT has developed an extensive and very active community of creators and young designers, as well as collectors. These young designers gain access to a large audience by developing collaborations with the brand.

In February 2021, RTFKT teamed up with the street artist Fewocious to introduce a collaboration on virtual sneakers, which were sold in 7 minutes for 3,1M$.

In May 2021, Avolta Partners organized the first financing round of the company and managed the influx of investors interested in the company. a16z was chosen and invested $8M alongside other investors in a seed round.

At the end of November 2021, RTFKT deployed its identity project CloneX. More than 20,000 Avatars were sold in a few hours, for a total amount of approximately $80M. The Japanese artist Takashi Murakami took part in defining some of the features of these avatars. The company thus reached $100M in sales for its second year of existence.

In December 2021, Nike announces the acquisition of the brand. Avolta Partners advised RTFKT in what is certainly the M&A deal of the year globally for the blockchain/NFT/metaverse industry. With previous deals like FundsDLT, Paymium, Voodoo/Fabrika Games, Avolta Partners has established itself as the leading M&A advisory firm in the global blockchain/NFT/metaverse industry.

Avolta Partners Team involved in the deal:
• Philippe Rodriguez, Founding Partner: philippe.rodriguez@avoltapartners.com
• Pascal Farrugia, Director: pascal.farrugia@avoltapartners.com
• Alexandre Meiers, Senior Analyst: alexandre.meiers@avoltapartners.com

About Avolta Partners
Paris - London - Brussels - Lisbon - Madrid
With more than 80 deals closed in 6 years, Avolta Partners has proven to be one of the most active M&A boutique in Europe in the Tech Industry. As a result, our team of 20 people has learned how to maximise the value of a deal thanks to a proven methodology and hard-nosed negotiations.

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