Nike Exits NFT Market: Sells RTFKT and Refocuses on Core Business

Nike has sold its RTFKT digital products unit, ending its NFT and Web3 ventures to refocus on core sports and retail businesses. The sale follows a market downturn and a year-long operational wind-down.

Nike has sold its digital products subsidiary RTFKT, marking a significant shift away from its previous focus on NFTs and Web3 initiatives. The sale, effective December 16, 2025, follows a year-long wind-down of RTFKT’s operations and a broader downturn in the NFT market, which has seen market capitalization drop by over 67% in the past year. Nike originally acquired RTFKT in 2021 to expand into digital collectibles and metaverse fashion, but under new leadership, the company has pivoted back to its core sports, footwear, and wholesale businesses. The buyer and terms of the sale were not disclosed. Despite exiting NFT production, Nike will continue some digital collaborations, such as in-game wearables with video game companies, but on a smaller scale. The move comes amid legal challenges from NFT buyers and declining sales in other segments, such as Converse. Nike’s divestment of RTFKT reflects a broader trend among major brands reassessing their digital asset strategies and focusing on more tangible business priorities.