Nike Exits NFT Market by Selling RTFKT Amid Declining Digital Art Demand
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Strategic Exit: Nike quietly sold its NFT subsidiary RTFKT in December 2025, marking a full exit from the digital collectibles space, reflecting a sharp shift in sentiment since the market's peak in 2021.
- Market Contraction: The NFT sector has faced prolonged contraction, with significant declines in trading volumes and mainstream engagement, eroding the commercial rationale for large consumer brands to maintain in-house digital collectible studios, prompting Nike's strategic reassessment.
- Leadership Shift: Under new CEO Elliott Hill, Nike is refocusing on its core business, and the sale of RTFKT helps streamline operations while reducing exposure to volatile digital asset markets, aligning with the company's strategic pivot.
- Legal Risks: The sale follows Nike's announcement to wind down RTFKT by January 2025, which triggered a class-action lawsuit from investors claiming the shutdown was a “rug pull,” seeking over $5 million in damages, indicating Nike's decision to sever ties completely with the business.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
