Nike Steps Away From Web3 With RTFKT Exit - What This Means for Digital Fashion’s Future

Nike just cut its digital threads. The sportswear giant's exit from RTFKT—its Web3 acquisition—signals a dramatic retreat from the metaverse frontier it once championed.

The Unraveling of a Digital Dream

Remember the hype? Virtual sneakers selling for six figures, blockchain-based exclusivity, a whole new revenue stream. Nike dove headfirst into Web3, betting that digital wearables would be the next billion-dollar market. Now, that bet looks shaky.

Follow the Money, Not the Mission Statement

Corporates love to talk about "innovation" and "the future"—until the quarterly earnings call. When speculative NFT trading volumes cratered and the metaverse failed to materialize as a daily destination, the financials stopped making sense. It's a classic case of a traditional brand discovering that crypto-native communities aren't easily bought or controlled.

The Web3 Winter Chills Another Giant

Nike's move isn't happening in a vacuum. It's part of a broader corporate pullback from blockchain initiatives that promised more than they delivered in the short term. The experiment showed that bridging physical brand power into digital ownership is far harder than slapping a logo on a 3D model.

A Cynical Take from Finance

Let's be real: this looks like another instance of a legacy firm treating Web3 as a marketing budget line item rather than a fundamental shift in asset ownership. When the hype cycle ended, the spreadsheet warriors reclaimed control. The "future of fashion" got downsized.

So, is this the end for big brands in Web3? Hardly. It's a painful, public lesson. The real digital asset revolution won't be led by those dipping a toe in the water—it'll be built by natives who understand that value isn't just transferred, it's transformed. Nike just handed them the ball.

Nike has quietly sold its digital products subsidiary RTFKT, which it acquired in 2021 as part of a push into NFTs and virtual sneakers, marking the end of its Web3 services announced earlier in 2025. The buyer and terms were not disclosed, but the move comes amid broader strategic shifts at Nike. Reports of the sale triggered a 195% surge in RTFKT’s market activity. Following news of the sale, Clone X NFT floor prices jumped significantly, sparking renewed Optimism among holders and traders.