Nike has quietly sold its digital fashion and NFT unit RTFKT as the global NFT market continues to shrink and major platforms pull back or change direction.
The sale took effect on 16 December 2025, according to industry reports. Nike did not disclose the buyer or the financial terms of the deal. The company acquired RTFKT in 2021 during the peak of interest in digital collectibles and virtual products.
Nike had already signaled its exit from the space earlier. In January 2025, the company announced it would shut down RTFKT’s Web3 services and pause NFT drops. It said it would continue limited work on gaming-related digital wearables but would reduce overall activity.
The decision comes under the leadership of Chief Executive Officer Elliott Hill, who took over in late 2024. Since then, Nike has shifted its focus back to core businesses such as sportswear, footwear, and wholesale partnerships. RTFKT was acquired under former CEO John Donahoe as part of a push into digital and virtual products.
Nike’s broader business has also faced pressure. In December 2025, its Converse brand reported a nearly 30% drop in sales for the fourth quarter. This led to market speculation about possible portfolio changes, although Nike has not confirmed any plans to sell Converse.
The RTFKT exit reflects wider weakness in the NFT sector. The total NFT market value has fallen more than 67% over the past year, with sales declining sharply in late 2025.
Major NFT platforms have responded by changing course. OpenSea announced it would move beyond NFTs to support tokens, collectibles, and physical goods. X2Y2 shut down its NFT marketplace and pivoted to artificial intelligence, while Rarible introduced new reward systems after calling earlier models unsustainable.
Industry events have also been affected. Organisers of NFT Paris and RWA Paris canceled their February 2026 events, citing poor market conditions.
Nike has not issued a public statement on the RTFKT sale.
