Nike has reportedly offloaded its stake in NFT platform RTFKT, which will reportedly continue operations under a new, unnamed owner, according to multiple reports.
“RTFKT transitioned to a new owner on December 17, launching a new chapter for the company and its community,” a Nike spokesperson told Bloomberg. The Oregonian was first to report the news.
The company did not disclose the terms of the sale or the buyer, and the RTFKT (pronounced artifact) website and social channels do not reference continuing or renewed operations.
RTFKT announced it would wind down operations last year. At the time, the team announced they would spin up an archive website to commemorate “everything we created, forged, and built together.”
A “Next Chapter FAQ” only references the archive, noting the “website content will reflect the history of past RTFKT Creator contributions and challenges,” rather than a new owner. The Block reached out to RTFKT representatives.
The project, launched independently in 2020 amid an NFT mania, and acquired by Nike about a year later for an undisclosed sum, is arguably among the most successful NFT projects to date.
Real-world impact?
It ranks ninth among top NFT projects by lifetime earnings, with over $49 million brought in from its many token drops and royalty sales, according to DeFi Llama.
The project has more than two dozen total collections, including collaborations with sneaker designer Jeff Staple and Japanese artist Takashi Murakami, which have recorded around $1.5 billion in trading volume, most of which is generated by the “influential” CloneX series, according to The Block Research data.
“RTFKT revolutionized the sneaker industry by introducing an innovative production model alongside Nike,” the website reads. “By merging digital design capabilities with traditional manufacturing, they created a groundbreaking preorder system that transformed how sneakers are produced and delivered. This approach used advanced digital creation techniques, including 3D modeling and digital prototyping, to dramatically streamline the production timeline.”
Nike acquired RTFKT during ex-CEO John Donahoe’s tenure, which has been characterized by its focus on direct and digital sales. Perhaps unrelated to his decision to back RTFKT, Donahoe is sometimes derided as the “man who made Nike uncool.”
The Oregonian notes that Donahoe’s replacement, Elliott Hill, is reportedly focused on reestablishing Nike’s real-world footprint in retail stores like Dick’s Sporting Goods and Foot Locker.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
