Nike RTFKT Sale: A Strategic Retreat from the Cooling NFT Market
Nike has quietly sold its NFT subsidiary RTFKT, marking a major strategic shift under CEO Elliott Hill. Read how the brand is pivoting back to its core sports business amidst a cooling NFT market.
The era of the $10,000 digital sneaker is quietly fading into history. Nike has discreetly sold its NFT subsidiary RTFKT, marking a definitive shift away from the digital collectibles market that once promised to revolutionize the brand's future.
Nike RTFKT Sale and the Focus on Core Business
According to reports from The Oregonian, Nike finalized the sale of RTFKT on December 16, 2025. The sportswear giant described the move as a "new chapter," though it didn't reveal the buyer or the financial specifics of the deal. This divestment comes roughly four years after Nike acquired the studio in late 2021 during the peak of the NFT boom.
The decision aligns with CEO Elliott Hill's broader strategy since taking the helm in 2024. Hill has been aggressively refocusing Nike on its core sports business and rebuilding wholesale partnerships that were previously neglected in favor of direct-to-consumer and digital experiments.
Market Divergence: NFT Slump vs. Crypto Resilience
While the NFT sector continues its contraction—evidenced by the shutdown of marketplace X2Y2 and the cancellation of NFT Paris 2026—the broader crypto market shows signs of structural growth. For instance, KuCoin reported a record $1.25 trillion in trading volume for 2025. This suggests a flight to quality and utility over speculative digital art.
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