Nike Officially Exits NFT Space – Sells RTFKT

#NIKE has quietly sold its NFT subsidiary RTFKT (pronounced "artifact") on December 17, 2025, marking the sportswear giant's complete exit from blockchain collectibles.

Key Details:

→ Buyer and sale price not disclosed

→ Sale comes ~1 year after announcing shutdown

→ Nike acquired RTFKT in 2021 during NFT boom

What was RTFKT?

A digital sneaker studio that created NFTs on Ethereum. At its peak, CloneX avatars generated $100M+ in sales, and some virtual sneakers sold for over $80,000.

Why it matters:

Nike is facing a $5M+ class-action lawsuit from investors claiming the shutdown was a "rug pull" that destroyed their NFT values.

Bigger Picture:

The #NFT market has lost over $12 billion since its April 2022 peak. Daily trading volume collapsed from billions to just ~$4 million.

Nike now refocuses on core sports business under CEO Elliott Hill, moving away from the digital collectibles experiment.

Another reminder that corporate NFT ventures don't guarantee long-term value.

Stay cauthat.