Nike has quietly sold its digital products subsidiary RTFKT , closing a short but closely watched chapter in big‑brand experiments with NFTs and virtual sneakers.
The move signals Nike’s renewed focus on its core athletic business just as the broader Web3 and digital collectibles market continues to cool. Nike exits RTFKT and NFTs Nike completed the sale of RTFKT in December 2025 , roughly one year after shutting down the unit’s Web3 services.
now described as having “transitioned to a new owner” as of mid‑December 2025 . Nike originally acquired RTFKT in 2021 , at the height of the NFT boom, positioning it as a flagship play in virtual sneakers, digital wearables, and metaverse collaborations.
At the time, RTFKT was barely a year old yet had reached a valuation of $33 million and was generating monthly revenues of around $4.5 million from NFT drops and digital collectibles. Why Nike walked away from Web3 The sale comes after RTFKT announced plans to end its Web3 services in January 2025 , archiving existing content and halting new NFT releases.
That decision followed a steep downturn in NFT trading volumes and a wave of consumer fatigue around speculative digital assets. Under CEO Elliott Hill , Nike has been pushing a back‑to‑basics reset, prioritizing performance product, wholesale partners, and more disciplined spending.
Analysts note that challenges elsewhere in the portfolio, including a reported 30% quarterly sales drop for Converse in December 2025 , have added pressure for Nike to streamline and refocus. What changes for RTFKT’s community For RTFKT’s collectors, the sale formalizes what has effectively been…
