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Nike Sells RTFKT Amid Sharp Decline in NFT Market Value

Nike Sells RTFKT Amid Sharp Decline in NFT Market Value

Nike confirmed its December 16 sale of RTFKT, marking the planned closure of its NFT division by January, while continuing to invest in physical, digital, and virtual innovations.

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Fact Check
The assessment is "likely_true" with high confidence based on the strength and consistency of the provided sources. The primary source is a high-authority (0.90) news outlet, OregonLive, which directly and explicitly states that Nike sold RTFKT. All subsequent sources, though of lower authority, corroborate this report and cite the OregonLive article as their origin. This creates a consistent and unified narrative across all provided evidence. There are no sources that contradict the claim of the sale. The only point of ambiguity is the future date (2026) in the primary source's URL and a similar future date (2025) mentioned in the lowest-authority source's commentary. However, given the high authority explicitly assigned to the primary source and its clear summary stating the event occurred in the past ("in December"), this date anomaly is treated as a likely error in the data rather than evidence disproving the sale itself. The weight of the direct, consistent reporting from a credible primary source strongly supports the truthfulness of the statement.
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Summary

Nike confirmed that it sold RTFKT, its NFT-focused subsidiary, on December 16, 2025, as part of a strategic plan to shut down the NFT division by January 2026. The buyer and transaction terms were not disclosed. The move follows Nike’s late 2024 announcement to close RTFKT amid a broader downturn in the NFT market, which has seen other firms such as X2Y2 and NFT Paris end operations. Acquired in 2021 during the NFT boom, RTFKT specialized in high-end digital sneakers and collaborations but is now divested under CEO Elliott Hill’s focus on core sports business and wholesale growth. Despite exiting NFTs, Nike will continue investing in product innovation across physical, digital, and virtual formats. A $5 million class-action lawsuit from investors remains pending following the earlier closure announcement.

Terms & Concepts
  • NFT: Non-fungible token, a unique digital asset recorded on a blockchain, often representing art, collectibles, or virtual goods.
  • RTFKT: A digital products company known for creating NFTs and virtual sneakers, acquired by Nike during the NFT boom and sold in 2025.