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Nike Exits NFT Space with RTFKT Sale Amid Digital Asset Retreat

Nike Exits NFT Space with RTFKT Sale Amid Digital Asset Retreat

Author:

Global Cryptocurrency

Published:

2026-01-07 14:21:02

9

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BTCCSquare news:

Nike has finalized its exit from Web3 by selling digital collectibles subsidiary RTFKT, marking a strategic retreat from blockchain initiatives. The December sale followed Nike's September announcement to wind down NFT operations by January's end. RTFKT's X account framed the MOVE as an "Artifact of cultural revolution"—celebrating its legacy of blending physical and digital creativity.

The sportswear giant had previously paused RTFKT's NFT production after disappointing quarterly sales. While terminating blockchain collectibles, Nike maintains select partnerships for in-game digital wearables. CEO Elliott Hill appears to be refocusing the company on core athletic products, distancing from crypto experiments.

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