Nike sells RTFKT digital collectibles unit to unnamed buyer: reports

Nike has reportedly sold its NFT platform subsidiary, RTFKT, to an unnamed buyer, with the transition occurring on December 17, according to multiple reports, including one from The Oregonian. A Nike spokesperson confirmed the transition to a new owner, though the terms of the sale and the buyer's identity were not disclosed. This sale follows RTFKT's announcement last year that it would wind down operations, directing users to an archive website. RTFKT, launched independently in 2020 and acquired by Nike a year later, is considered one of the most successful NFT projects, ranking ninth in lifetime earnings with over $49 million. The project, known for its CloneX series and collaborations with artists like Takashi Murakami, revolutionized the sneaker industry by merging digital design with manufacturing through an innovative preorder system. The sale occurred during the tenure of ex-CEO John Donahoe, whose successor, Elliott Hill, is reportedly focused on reestablishing Nike's physical retail presence.

(Source：The Block)