Nike reportedly quietly sold its digital product subsidiary RTFKT last December, marking a significant shift in the sportswear giant's Web3 strategy and digital assets. According to US media reports on January 7th, the deal was not publicly announced by Nike, and the specific terms and identity of the buyer remain undisclosed. However, the transaction officially took effect on December 16, 2025, indicating that the transition was initiated early and is a long-term undertaking.
RTFKT is a renowned digital studio specializing in Non-Fungible Token, the metaverse, and virtual fashion, having made a significant impact during the Web3 boom of 2021–2022. Nike acquired RTFKT in late 2021, under CEO John Donahoe, with the expectation of leveraging the Non-Fungible Token wave and building an ecosystem of digital products, virtual sneakers, and brand experiences within the metaverse. This acquisition was then XEM one of Nike's boldest moves to capitalize on the blockchain trend and the new generation of consumers.
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However, after the initial boom, the Non-Fungible Token and Web3 markets quickly cooled down. By early 2025, RTFKT announced it would cease its Web3 services, a move that clearly reflected the persistent difficulties in the digital asset sector, from declining liquidation and weakening user demand to major brands having to XEM the effectiveness of their investments. Nike's decision to sell RTFKT was therefore seen by many experts as part of a restructuring strategy, refocusing on core businesses and optimizing costs in the context of a still uncertain global economic environment.
