Nike Sells RTFKT as NFT Market Cap Plummets Over 67%
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Jan 07 2026- Strategic Exit: Nike sold its digital products unit RTFKT in December 2025 after announcing plans to end Web3 services and pause NFT drops, reflecting the company's response to the sharp decline in the NFT market.
- Sales Decline: Concurrently, Nike's Converse brand reported a 30% sales drop in Q4 2025, prompting analysts to speculate about potential further portfolio cuts, although the company has not confirmed any such plans.
- Deteriorating Market Conditions: The NFT market cap has fallen over 67% in the past year, leading major platforms like OpenSea and X2Y2 to adjust their business models, with OpenSea shifting from an NFT-exclusive focus to a broader trading model, highlighting the challenging market environment.
- Event Cancellations: Major industry events, including NFT Paris, were canceled in February 2026 due to poor market conditions, further reflecting the challenges and uncertainties facing the NFT sector.
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.
