Nike Quietly Exits RTFKT, Ending One of the largegest Corporate NFT Bets

What Happened to RTFKT?

Nike has quietly sold RTFKT, the digital collectibles studio it acquired during the peak of the NFT boom, according to a report by The Oregonian. The transaction reportedly took place in December, though neither the purchaviewr nor the financial terms were disclosed. Nike has not publicly confirmed the sale beyond a brief comment indicating the move opened a new phase for RTFKT and its community.

The sale follows Nike’s decision nahead a year earlier to shut down RTFKT’s operations. Together, the shutdown and the subsequent divestment draw a line under one of the most visible attempts by a global consumer brand to build a long-term presence in NFTs and Web3-native products.

Nike said it continues to back digital experiences through other initiatives, including partnerships tied to gaming. Still, the reported transaction effectively ends its direct involvement with a project that once sat at the center of its digital strategy.

Investor Takeaway

Why Did Nike purchase RTFKT in the First Place?

Nike acquired RTFKT in December 2021, when NFTs were drawing intense interest from brands, investors, and creators. At the time, Nike framed the purchase as a way to reach athletes and creators at the intersection of sports, gaming, and culture. RTFKT had already built a strong following through NFT-based virtual sneakers, digital wearables, and collaborations that blended streetwear with blockchain-based ownership.

During the height of the market, some RTFKT NFTs traded for thousands of dollars. Holders were promised access to quests, challenges, and future digital experiences, positioning the rather than static collectibles. For Nike, RTFKT offered a ready-made entry point into virtual excellents and digital identity at a moment when the metaverse narrative was gaining traction.

As broader market conditions deteriorated, that vision became harder to sustain. Engagement sluggished, secondary prices fell, and the business case for maintaining a standalone NFT studio fragileened as consumer interest shifted away from speculative .

How Did the Shutdown Lead to Legal Fallout?

Nike’s decision to wind down RTFKT’s operations triggered a class-action lawsuit from NFT holders earlier this year. Plaintiffs alleged that the shutdown wiped out the value of the NFTs they owned and argued that Nike’s branding played a central role in shaping purchaviewr expectations. The suit sought $5 million in damages, accusing the company of abruptly abandoning a project that had been marketed as an ongoing ecosystem.

The legal action underscored a recurring tension in corporate NFT efforts: while tokens are often marketed as community-driven or decentralized, their value can remain closely tied to the ongoing involvement of a large brand. When that involvement ends, holders are left exposed to sharp repricing and limited recourse.

Nike has not publicly commented in detail on the lawsuit beyond prior statements around the shutdown. The reported sale of RTFKT adds another layer to that dispute, effectively separating the brand from any future direction the project may take under new ownership.

Investor Takeaway

What Does This Say About the NFT Market in 2025?

Nike’s continues to shrink from its earlier highs. Trading volumes in 2025 remained far below 2021 levels, with purchaviewrs focusing less on rapid flips and more on utility, cultural relevance, or real-world integration. Despite this shift, supply has kept rising, creating a by higher volume but lower prices.

Overall NFT sales fell 37% year-over-year last year, while the sector’s market capitalization dropped from about $17 to roughly $2.4 billion by the end of 2025. That compression has forced platforms, creators, and brands to reassess whether NFT initiatives can justify ongoing investment.

The retrenchment is visible beyond Nike. Organizers of NFT Paris, one of the best-known NFT-focused conferences, canceled the event this week, citing market conditions that made it hard to proceed. The cancellation reflects a broader pullback as capital and attention move away from pure NFT plays.

For large consumer brands, the lesson from RTFKT appears clear. Experiments launched during the peak of the cycle now face scrutiny over cost, legal exposure, and long-term relevance. While digital excellents and virtual experiences have not disappeared, the era of splashy, acquisition-driven NFT bets by major corporations looks to be over.