Nike Quietly Dumped NFT Arm RTFKT: Report

Nike reportedly sold its digital products unit RTFKT in December 2025, about a year after shutting down the business. The exit from its high-profile digital bet comes as the company focuses back to core sports products.

According to a recent report by OregonLive, the sale was effective Dec. 16. The buyer or share financial terms have not been disclosed yet.

Strategy Shift Under New CEO

RTFKT was bought by Nike in 2021 under former CEO John Donahoe, during a push into digital sales and virtual products. That strategy changed after Elliott Hill took over as CEO in late 2024. Hill has spent his second year pulling Nike back toward sports, footwear, and wholesale partners.

The RTFKT sale also comes as questions build around other parts of Nike’s portfolio. In December, Nike’s Converse brand reported a 30% sales drop in Q4 2025. Soon after, some analysts raised the idea of a possible brand sale, though Nike has not confirmed any plans.

Nike first said it would shut down RTFKT in January 2025 after slowing active drops. At the time, the company said it would pause NFT production but continue work with video game firms on virtual items such as in-game wearables.

NFT Market Weakness

The RTFKT exit comes during a broad NFT market slump. Monthly NFT sales dropped to $320 million in November 2025 and slipped further in December. Data shows that the total NFT market cap is currently around $2.78 billion, down over 67% in the past year.

Major NFT platforms have changed course amid this market weakness. OpenSea led NFT trading earlier in 2025, but CEO Devin Finzer said in October the platform would shift from an NFT-only focus to a wider trading model covering tokens, collectibles, and physical goods.

In March 2025, X2Y2 shut down its NFT operations due to lack of market interest and moved into AI. Rarible also rolled out a new trader reward model in September after saying previous setups “were not sustainable.”

Event activity has also cooled. Organizers behind NFT Paris and RWA Paris recently cancelled their February 2026 plans with one month’s notice, citing market conditions.

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