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Nike reportedly sold its digital products subsidiary RTFKT in December, following up on its plan to “wind up” its NFT department by the end of January. The athletic wear giant had previously announced last year that it would end its non-fungible tokens (NFTs) operations and other blockchain-based initiatives. The sale was executed just over a year after the company commenced the shut down of the “Artifact” unit. RTFKT’s official X account shared a press statement on X in 2024, in which the subsidiary said it was proud of its achievements during its time under Nike.  “We’ve built a community where traditional boundaries between physical and digital creativity dissolved, where artists and collectors redefined what the future could be. Looking back, we’re incredibly proud of everything we’ve achieved together,” the post read. “RTFKT is becoming what it was always meant to be, an Artifact of cultural revolution.” Nike ends NFT production after quarterly sales drop shock Nike had announced on Medium back in September that it would temporarily halt NFT products developed by RTFKT. The company stopped creating blockchain-based collectibles, but insisted that partnerships with video game companies to produce in-game wearables with RTFKT’s design would continue. CEO Elliott Hill’s second year is seemingly taking the clothing and footwear company away from digital assets and back to traditional sports, athletic products, and rebuilding relationships with partners such as Dick’s Sporting Goods and Foot Locker.  RTFKT was acquired by Nike in 2021 under former CEO John Donahoe, who backed direct-to-consumer and digital sales channels. The acquisition was meant to expand the sportswear brand’s presence in collectibles and metaverse markets during the 2020-2021 NFTs and digital worlds bubble.  In a brief statement, Nike confirmed that the sale of RTFKT was effective December 16 and it was “launching a new chapter for the company…

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Filed under: News - @ January 7, 2026 11:27 am