Quick Take
- Nike offloaded RTFKT to an undisclosed buyer on December 17, 2025.
- RTFKT shut down operations in late 2024 after NFT market struggles.
- Sale reflects Nike’s pivot to core athletic focus under CEO Elliott Hill.
Nike finalized the sale of RTFKT on December 17, 2025, transferring the digital sneaker subsidiary to a new owner whose name stayed private. The company had snapped up RTFKT in 2021 during the NFT surge, betting on blockchain fashion to blend virtual assets with real-world hype. RTFKT built a following with avatar NFTs like Clone-X and AR-enabled sneakers that owners wore in metaverse spaces.
The handover came a year after Nike halted RTFKT’s activities in December 2024. Collectors faced stalled projects and fading values as the broader crypto downturn hit hard. A class-action lawsuit followed in 2025, with holders claiming Nike misled them on the venture’s longevity, seeking damages over lost investments.
Under Elliott Hill, who took the CEO role in 2024, Nike sharpened attention on traditional sports gear and wholesale ties. Converse sales dipped 30 percent in the last quarter, underscoring pressures that prompted the brand to shed experimental arms. RTFKT’s exit mirrored Nike’s wind-down of .Swoosh, its NFT platform for fan perks.
Throughout social media, holders pondered what the change meant for their digital holdings. The undisclosed buyer sparked guesses about fresh directions, but Nike’s statement framed it as a new start for RTFKT without specifics. The deal highlighted big brands’ retreat from NFTs after the 2022 peak, leaving collectibles to adapt amid slower adoption.
