Nike quietly sells RTFKT in December 2025 after earlier announcing it would end Web3 services and pause NFT drops while keeping gaming wearables. The sale became effective Dec. 16, though the buyer’s identity and financial terms were not disclosed.
Nike acquired RTFKT in 2021, and the unit previously announced it would end its Web3 services in January 2025. The divestiture follows a strategic shift under Chief Executive Officer Elliott Hill, who assumed the role in late 2024. RTFKT was purchased during the tenure of former CEO John Donahoe as part of an expansion into digital sales and virtual products. Hill has redirected the company’s focus toward sports, footwear, and wholesale partnerships during his second year leading the organization.
Nike announced in January 2025 it would close RTFKT after reducing product releases. The company stated at the time it would pause NFT production while continuing collaborations with video game companies on virtual items including in-game wearables.
The exit from RTFKT occurs during a sustained downturn in the NFT market. Monthly NFT sales declined significantly in November 2025 and decreased further in December, with the total NFT market capitalization falling more than 67% over the past year, according to market data.
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