Nike quietly sold RTFKT a year after winding down its digital collectible’s studio division. The transaction was completed on December 17.
Neither the buyer nor the financial terms were disclosed.
The sale represents Nike’s continued withdrawal from digital collectibles and blockchain-based products.
In a short media statement first attained by The Oregonian, Nike stated, “RTFKT transitioned to a new owner on December 17, launching a new chapter for the company and its community. Nike continues to invest in delivering innovative products and experiences across physical, digital and virtual environments.”
Nike acquired RTFKT (pronounced Artifact) in December 2021, during the peak of the short-lived NFT (non-fungible token) boom, under then-CEO John Donahoe, who was focused on direct-to-consumer and digital sales. At the time, Nike framed the purchase to reach athletes and creators at the intersection of sports, gaming and culture. RTFKT had already built a strong following through NFT-based virtual sneakers, digital wearables and collaborations that blended streetwear with blockchain-based ownership.
The wind-down, first announced in December 2024, was among the first moves made by current CEO Elliott Hill after returning to Nike in October of that year. Hill is refocusing the brand on sports and rebuilding wholesale partnerships.
Image courtesy RTFKT
