Nike has officially closed the book on its blockchain venture, selling off RTFKT its once-hyped virtual sneaker subsidiary to an undisclosed buyer this past December. The quiet transaction, finalized on December 17, 2025, marks the end of what turned out to be a rocky four-year experiment in digital collectibles and the metaverse.
The sale didn't come as a total shock. Nike had been signaling its retreat from the NFT space for over a year, part of a broader company reset under CEO Elliott Hill. Since taking charge in late 2024, Hill has been laser-focused on what he calls a "Win Now" strategy stripping away side projects and refocusing the company on what it does best: making top-tier athletic gear and strengthening ties with brick-and-mortar retail partners like Foot Locker.
For Hill, the pivot is personal. His vision is a return to Nike's roots innovation in performance, not speculation in pixels. That means less metaverse, more sneakers you can actually lace up.
Nike kept details of the sale close to the vest. In a brief statement, the company framed the move as a "new chapter" for the RTFKT community, but wouldn't reveal who bought the brand or what they paid for it. The secrecy feels fitting for a deal that's more about damage control than celebration.
The timing is also telling. The NFT market has been in freefall, and Nike's blockchain ambitions became a legal liability earlier this year. In April 2025, a group of investors filed a class-action lawsuit accusing the company of pulling the rug out from under them when it began winding down RTFKT's Web3 operations. The suit claimed their digital assets lost significant value as a result an accusation Nike has been eager to put in the rearview mirror.
By selling RTFKT outright, Nike is making a clean break. No more digital collectibles drama, no more courtroom battles over devalued NFTs. Instead, the company is betting big on the playbook that built the Swoosh in the first place: real shoes, real innovation, and real retail relationships.
No comments:
Post a Comment