Nike quietly sold its NFT and digital products subsidiary RTFKT acquired in 2021 during the NFT boom in December 2025, with the deal effective December 16. The buyer and terms were not disclosed.
This follows Nike’s earlier decision to wind down RTFKT’s operations and pause NFT production amid a broader NFT market downturn— market cap down >67% YoY. In response to the news breaking on January 7, 2026, the floor price of RTFKT’s flagship collection, Clone X 20,000 avatars collab with Takashi Murakami, surged dramatically: From around 0.09–0.24 ETH pre-news.
To approximately 0.29–0.3 ETH a ~200–240%+ gain in hours, with peaks near 0.3 ETH. This pump was driven by community speculation about a “new chapter” under independent ownership—potential revivals, roadmaps, airdrops/tokens, or freedom from corporate constraints.
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Other RTFKT collections like Cryptokicks, Animus saw smaller but notable spikes. However, sentiment on X is mixed: some see it as a bullish reset, while others warn it’s classic FOMO into a potential rug or nothingburger similar to past hype cycles. Volume exploded, but sustainability depends on the undisclosed buyer’s plans.
Nike stated it continues investing in digital/virtual experiences like gaming partnerships, but this marks a clear retreat from direct NFT/Web3 ventures under new CEO Elliott Hill’s focus on core sports/wholesale.
Nike’s quiet sale of RTFKT marks a definitive exit from one of the most prominent corporate NFT experiments of the 2021-2022 boom. Under new CEO Elliott Hill, Nike is refocusing on core sports apparel, wholesale partnerships, and traditional revenue streams. This follows the 2024 shutdown of RTFKT operations and pausing of NFT production amid a >67% YoY drop in global NFT market cap.
Nike emphasizes continued investment in “physical, digital, and virtual” experiences, likely through gaming partnerships, in-game wearables rather than blockchain-based collectibles. This avoids risks like the ongoing class-action lawsuit alleging a “rug pull” that wiped out NFT values claims >$5M in damages.
Broader portfolio cleanup: Comes alongside a 30% Q4 2025 sales drop for Converse, fueling analyst speculation about further divestitures. Signals a post-Donahoe era prioritizing profitability over speculative tech bets. Clone X floor jumped ~200-240% from ~0.09-0.12 ETH pre-news to 0.29-0.31 ETH today, with peaks near 0.4 ETH earlier.
Other collections like Animus, Cryptokicks saw 500-600%+ spikes. This is pure FOMO on hopes of revival: new roadmap, airdrops, token launch, or freedom from corporate constraints. Community buzz is high—former RTFKT execs tease “more soon” and “a new future.” Independence could allow bolder Web3 moves like utility, metaverse integrations without Nike’s risk aversion.
Some speculate buyers like Yuga Labs, Gary Vee, or a crypto-native entity. Sentiment is mixed—many call it a “classic FOMO pump” into uncertainty similar to past hype cycles like Moonbirds/Meebits. No buyer reveal yet; if plans disappoint or it’s a quiet wind-down, prices could crash. Current volume is explosive but unsustainable without concrete announcements.
Highlights challenges of brand-led NFT projects: hype-driven speculation over real utility, regulatory scrutiny like securities claims, and market downturns forcing exits. Other brands may follow suit, pivoting to less volatile digital strategies.
Opportunity for independent projects: Could signal a shift to community/crypto-native led revivals, where projects thrive without corporate overhead. Mini-pump in blue-chip PFPs like Clone X now ranked ~#24 by floor cap, but overall market remains down—trading volumes shifted to utility/culture over pure speculation.
Overall, this is bullish short-term for RTFKT holders gambling on a “new chapter,” but reinforces NFTs’ volatility and the pitfalls of corporate involvement. Sustainability hinges on the mystery buyer’s vision—watch for reveals.