Nike Sells RTFKT Digital Collectibles Unit to Unnamed Buyer, Marking Exit from NFT Market

Nike Inc. has sold its stake in the digital collectibles platform RTFKT to an unnamed buyer, marking the sportswear giant's full exit from the NFT market. A Nike spokesperson confirmed that the transaction was completed on December 17, 2025, signaling a new chapter for RTFKT.

The sale comes one year after Nike announced that it would wind down RTFKT's operations. At that time, the company noted it would archive its content while ceasing new NFT production. Despite the earlier closure, the decision to sell the unit was not publicly disclosed until recently.

Nike acquired RTFKT in 2021 for an undisclosed sum during the height of the NFT boom, positioning it as a key part of its digital strategy. The platform gained attention for its virtual sneakers, digital wearables, and collaborations with prominent figures in streetwear and art. The sale now reflects a strategic shift away from the NFT space as the market has cooled.

Why Did This Happen?

Nike's decision to sell RTFKT aligns with a broader corporate strategy under new CEO Elliott Hill, who has prioritized a return to the brand's core physical products. Hill's leadership has focused on revitalizing Nike's presence in traditional retail channels like Dick's Sporting Goods and Foot Locker, a departure from the digital-first approach of former CEO John Donahoe.

The NFT market has seen a significant downturn since 2021. RTFKT's operations were suspended in December 2024, and this led to a class-action lawsuit from NFT holders who alleged the company performed a "rug pull" by devaluing their digital assets. While Nike did not confirm whether the new owner will resume operations, the RTFKT website and social channels remain unchanged, offering no new developments.

How Did Markets React?

Nike's stock has been under pressure in recent months, with shares down 2.4% in afternoon trading following the announcement. Investors have closely watched the company's strategic moves as it navigates declining sales and market share. Nike's exit from the NFT space appears to be part of a broader cost-cutting and refocusing effort.

The decision to divest RTFKT also reflects a broader trend among major brands to distance themselves from the volatile NFT market. As inflation and interest rates have pushed investors away from speculative assets, companies have increasingly shifted capital back to core operations and physical products.

What Are Analysts Watching Next?

Analysts are now watching how Nike's new strategy will affect its digital and physical product lines. The company has stated that it will continue to invest in virtual experiences and partnerships with gaming platforms, but it has not provided further details.

The future of RTFKT under the new ownership remains uncertain. The company's "Next Chapter FAQ" still references the archive site but provides no information about the new owner. Some industry observers believe that the platform may eventually resume operations under a new brand identity or strategy.

Nike's exit from the NFT market also highlights the challenges companies face when entering emerging technologies. The brand's early investment in RTFKT was seen as a bold move, but the subsequent market crash and regulatory scrutiny have made it difficult for many firms to sustain NFT-based initiatives.

As the NFT industry evolves, Nike's decision to sell RTFKT may be seen as a pragmatic move to reallocate resources and focus on more stable growth areas. The company's next steps in the digital space will likely be a key focus for investors and analysts in the coming months.