Nike Sells NFT Arm RTFKT, Refocuses on Core Sports Business
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Jan 07 2026- Strategic Shift: Nike's decision to shut down its NFT subsidiary RTFKT and complete the sale on December 16 marks a significant pivot in its metaverse strategy, aiming to refocus on core sports performance business.
- Market Environment Changes: The NFT market has faced challenges due to saturation, declining resale values, and waning investor interest, and Nike's move reflects a keen response to market dynamics that could impact its long-term positioning in digital assets.
- Core Partnership Rebuilding: New CEO Elliott Hill is working to rebuild relationships with major wholesale partners like Dick’s Sporting Goods and Foot Locker, indicating Nike's renewed focus on traditional retail channels to enhance sales and market share.
- Commitment to Ongoing Innovation: Despite the sale of RTFKT, Nike stated it will continue to invest in innovative products and experiences across physical, digital, and virtual environments, demonstrating its strategic intent in diversifying its business offerings.
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.
