Nike Quietly Sells RTFKT After Shutting Down Web3 Operations
Nike has quietly bought RTFKT. Its digital merchandise unit centered on NFTs and digital sneakers. The sale occurred in December 2025. In line with OregonLive, the corporate didn’t share who purchased RTFKT. It additionally didn’t reveal the value or deal phrases. The corporate solely mentioned the sale took impact on December 16.
In line with OregonLive, Nike quietly bought its digital merchandise subsidiary RTFKT in December 2025, which it had acquired in 2021. RTFKT beforehand introduced it will finish its Web3 companies in January 2025. Nike’s Converse model reported a 30% drop in quarterly gross sales in December…
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This transfer comes a couple of 12 months after. RTFKT mentioned it will shut down its Web3 companies in January 2025. Nike purchased RTFKT in 2021 to discover NFTs. Together with digital style and digital gadgets for video games and on-line worlds. However that plan didn’t final.
Why Nike Stepped Again From Web3
The sale matches right into a wider shift inside Nike. The corporate is now led by CEO Elliott Hill. Since taking cost, he has pushed Nike to focus extra on sports activities merchandise and core retail. The corporate can also be working to rebuild ties with wholesale companions like Dick’s Sporting Items and Foot Locker. These partnerships had weakened throughout earlier years. When Nike centered extra on digital and direct gross sales.
RTFKT was purchased underneath a earlier CEO. That earlier technique leaned closely into digital development and on-line experiments. Below the brand new management, Nike seems much less excited about working its personal Web3 studio.
Digital Tasks Are Not Absolutely Gone
Even after promoting RTFKT, Nike has not totally left digital areas. The corporate stopped making new NFTs by RTFKT. Nonetheless it continues some digital initiatives with sport makers. Nike has energetic partnerships with Fortnite and EA Sports activities. These offers concentrate on in-game gadgets and digital wearables. However they’re smaller in scale in comparison with the sooner NFT plans. This exhibits the corporate is selecting a lighter method. It needs publicity to digital worlds. However with out proudly owning a full Web3 enterprise.
Lawsuit and Wider Enterprise Strain
The shutdown of RTFKT additionally led to authorized bother. An investor filed a lawsuit towards Nike. The declare says the corporate damage the worth of digital sneakers by closing the unit. The lawsuit describes the transfer as a “rug pull.” The corporate requested the courtroom to dismiss the case in December.
But, Nike faces different challenges. Its Converse model famous a 30% drop in quarterly gross sales in December 2025. This decline has raised questions on future modifications inside Nike’s model portfolio. General, the quiet sale of RTFKT indicators a transparent shift. Nike is stepping again from daring Web3 bets. The corporate is returning its focus to sports activities, retail companions and easier digital tie-ins.
