Nike sold its digital collectibles studio, RTFKT, reportedly in December 2025. The company acquired RTFKT in December 2021 during the peak of the NFT market boom. This divestiture marks a definitive exit from Nike’s ambitious Web3 strategy.
The identity of the buyer and the financial terms of the deal remain undisclosed.
The sale aligns with a strategic pivot under CEO Elliott Hill, who took the helm in late 2024. Hill is refocusing the company on its core business of sports footwear and apparel.
This move follows Nike’s January 2025 announcement that it would shut down RTFKT’s operations. The exit occurs amid a prolonged downturn in the broader NFT market, which saw its total market capitalization fall by over 67% in the past year.