Rich by Coin

Nike’s RTFKT Cryptokicks iRL in the Stone colorway, equipped with self-lacing FitAdapt tech, haptics, and app integration. The $650 sneaker launched in December 2022 as part of Nike’s Web3 initiative. Nike sold its NFT studio RTFKT, ending a chapter that began with the Cryptokicks iRL line.

The sale was completed in late 2025, marking Nike’s exit from the NFT-focused venture. The move underscores a broader retreat from NFT hype and a recalibration of how legacy brands engage with digital culture after the Web3 boom. While RTFKT helped popularize digital fashion and tokenized drops, Nike chose to unwind the unit and shift its digital strategy toward core business priorities. As brands reassess their digital approaches, the RTFKT exit demonstrates that mainstream players are prioritizing tangible value and strategic partnerships over speculative NFT ventures.