Web3 Share Share this article Copy linkX (Twitter)LinkedInFacebookEmail Nike sells its NFT and virtual sneakers amid la Web3 Share Share this article Copy linkX (Twitter)LinkedInFacebookEmail Nike sells its NFT and virtual sneakers amid la

Nike sells its NFT and virtual sneakers amid lack of digital art market interest: report

2026/01/07 20:08
5 min read
Share
Share this article
Copy linkX (Twitter)LinkedInFacebookEmail

Nike sells its NFT and virtual sneakers amid lack of digital art market interest: report

Deal follows NFT shutdown as Nike retreats from digital collectibles amid cooling market demand

By Olivier Acuna|Edited by Jamie Crawley
Jan 7, 2026, 12:08 p.m.
Make us preferred on Google
Nike quitely sells off its NFT unit. (Photo by wu yi on Unsplash/Modified by CoinDesk)

What to know:

  • Nike quietly sold its NFT subsidiary RTFKT in December, marking a strategic shift from its digital collectibles venture.
  • The sale comes amid a broader contraction in the NFT market, with other major players also scaling back operations.
  • Nike's divestment aligns with CEO Elliott Hill's focus on core sports business and wholesale partnerships.

Nike (NKE) discreetly sold RTFKT, its once-high-profile digital products and non-fungible token (NFT) subsidiary, roughly a year after shutting down the business, according to The Oregonian.

The sale took place on Dec. 16, according to the report, citing a Nike statement in which the global sportswear brand called the sale of its NFT unit “a new chapter for the company and its community.” Nike did not disclose the buyer or financial terms of the deal and did not immediately respond to CoinDesk’s request for comment.

STORY CONTINUES BELOW
Don't miss another story.Subscribe to the The Protocol Newsletter today. See all newsletters
Sign me up

The retrenchment has extended beyond Nike, as the broader NFT sector continues to contract from its major boom back in 2021. NFT marketplace X2Y2 announced it would sunset operations following a sharp decline in trading volumes, while NFT Paris, once one of the industry’s flagship conferences, also announced it canceled its 2026 event.

“Nike continues to invest in delivering innovative products and experiences across physical, digital and virtual environments,” Nike said in the statement, according to the report

Nike acquired RTFKT, pronounced “artifact,” in late 2021 at the height of the NFT boom, as the sportswear giant expanded into digital collectibles, virtual sneakers and blockchain-based products. The studio quickly became one of the most prominent brands in the NFT space, collaborating with artists and releasing digital sneakers that at times sold for thousands of dollars.

In late 2024, Nike announced plans to shutter RTFKT’s operations in late 2024 in an X post , citing a pullback from NFTs while continuing to pursue digital and virtual products through partnerships with video game companies. The shutdown sparked a class-action lawsuit filed in Brooklyn, New York in April 2025, with investors alleging they suffered significant losses and damages of more than $5 million.

The divestment comes under Nike's CEO Elliott Hill, who took over in 2024 and has been refocusing Nike on its core sports business and rebuilding wholesale partnerships.

NikeRTFKTNFTNFTs

More For You

KuCoin Hits Record Market Share as 2025 Volumes Outpace Crypto Market

Commissioned byKuCoin

KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.

What to know:

  • KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
  • This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
  • Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
  • Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
  • Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
View Full Report

More For You

Circle platform promising tokenized gold, silver swaps is 'fake,' company says

The release, distributed on Christmas Eve, used Circle branding and claimed to quote executives, but a Circle spokesperson said it was "not real."

What to know:

  • A fake press release claimed that Circle, the issuer of USDC, had launched a new platform called CircleMetals, offering tokenized gold and silver trading.
  • The release, distributed on Christmas Eve, used Circle branding and quoted executives, but was later confirmed to be fake by the company.
  • The fake platform, which remains live, appears to be a scam, with links to a swap platform and promises of rewards, but there is no evidence to suggest that the tokenized gold and silver tokens actually exist.
Read full story
Latest Crypto News

Strategy’s STRC perpetual preferred stock returns to $100, may trigger more bitcoin buying

Start-of-the-year recovery rally stalls: Crypto Daybook Americas

Crypto Markets Today: Bitcoin slides as Asia-led sell-off hits altcoins

Morgan Stanley files for ether trust after bitcoin and solana ETF push

Bitcoin slides toward $91,000 with two CME pricing gaps coming into focus

Lloyds Bank completes UK’s first gilt purchase using tokenized deposits

Top Stories

Morgan Stanley files for ether trust after bitcoin and solana ETF push

Crypto Markets Today: Bitcoin slides as Asia-led sell-off hits altcoins

XRP could outperform bitcoin as XRP/BTC chart shows rare Ichimoku breakout since 2018

Bitcoin miners chase AI demand as Nvidia says Rubin is already in production

Start-of-the-year recovery rally stalls: Crypto Daybook Americas

Crypto traders can now take leveraged bets on silver via Binance Futures

Market Opportunity
AINFT Logo
AINFT Price(NFT)
$0.0000003221
$0.0000003221$0.0000003221
-5.70%
USD
AINFT (NFT) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

‘Scam’ claims spread after Trump’s Super Bowl crypto donation pitch

‘Scam’ claims spread after Trump’s Super Bowl crypto donation pitch

AI concerns and lack of disclosure sparked controversy, raising questions about legality, ethics, and campaign transparency rules.
Share
Coinstats2026/02/09 20:15
VIPRE Security Group Positioned as a Leader in the SPARK Matrix™: Enterprise Email Security, 2025 by QKS Group

VIPRE Security Group Positioned as a Leader in the SPARK Matrix™: Enterprise Email Security, 2025 by QKS Group

The QKS Group SPARK Matrix™ provides competitive analysis and ranking of the leading Enterprise Email Security vendors. VIPRE Security Group, with its comprehensive
Share
AI Journal2026/02/09 20:31
Whales Dump 200 Million XRP in Just 2 Weeks – Is XRP’s Price on the Verge of Collapse?

Whales Dump 200 Million XRP in Just 2 Weeks – Is XRP’s Price on the Verge of Collapse?

Whales offload 200 million XRP leaving market uncertainty behind. XRP faces potential collapse as whales drive major price shifts. Is XRP’s future in danger after massive sell-off by whales? XRP’s price has been under intense pressure recently as whales reportedly offloaded a staggering 200 million XRP over the past two weeks. This massive sell-off has raised alarms across the cryptocurrency community, as many wonder if the market is on the brink of collapse or just undergoing a temporary correction. According to crypto analyst Ali (@ali_charts), this surge in whale activity correlates directly with the price fluctuations seen in the past few weeks. XRP experienced a sharp spike in late July and early August, but the price quickly reversed as whales began to sell their holdings in large quantities. The increased volume during this period highlights the intensity of the sell-off, leaving many traders to question the future of XRP’s value. Whales have offloaded around 200 million $XRP in the last two weeks! pic.twitter.com/MiSQPpDwZM — Ali (@ali_charts) September 17, 2025 Also Read: Shiba Inu’s Price Is at a Tipping Point: Will It Break or Crash Soon? Can XRP Recover or Is a Bigger Decline Ahead? As the market absorbs the effects of the whale offload, technical indicators suggest that XRP may be facing a period of consolidation. The Relative Strength Index (RSI), currently sitting at 53.05, signals a neutral market stance, indicating that XRP could move in either direction. This leaves traders uncertain whether the XRP will break above its current resistance levels or continue to fall as more whales sell off their holdings. Source: Tradingview Additionally, the Bollinger Bands, suggest that XRP is nearing the upper limits of its range. This often points to a potential slowdown or pullback in price, further raising concerns about the future direction of the XRP. With the price currently around $3.02, many are questioning whether XRP can regain its footing or if it will continue to decline. The Aftermath of Whale Activity: Is XRP’s Future in Danger? Despite the large sell-off, XRP is not yet showing signs of total collapse. However, the market remains fragile, and the price is likely to remain volatile in the coming days. With whales continuing to influence price movements, many investors are watching closely to see if this trend will reverse or intensify. The coming weeks will be critical for determining whether XRP can stabilize or face further declines. The combination of whale offloading and technical indicators suggest that XRP’s price is at a crossroads. Traders and investors alike are waiting for clear signals to determine if the XRP will bounce back or continue its downward trajectory. Also Read: Metaplanet’s Bold Move: $15M U.S. Subsidiary to Supercharge Bitcoin Strategy The post Whales Dump 200 Million XRP in Just 2 Weeks – Is XRP’s Price on the Verge of Collapse? appeared first on 36Crypto.
Share
Coinstats2025/09/17 23:42