Nike cuts off the NFT side-hustle as digital collectible markets can’t lift off, aligning with the broader trend.
With most of the non-fungible token (NFT) market retreating, Nike just quietly got rid of their RTFKT digital shoe brand. Set up during the NFT boom back in 2021, Nike sold the RTFKT business in December, 2025.
Nike Throws Shade On NFTs With RTFKT Sale
The original plans about selling the Web3 company surfaced about a year ago, but Nike had started optimizing their capital in Q4 of 2025, when it was made known to the public that the shoe maker’s Converse brand slid by as much as 30% in a year.
Nike selling off the RTFKT NFT business venture comes as a logical step as even the biggest names in the NFT sphere had tightened their belts. For instance, the largest digital collectible marketplace OpenSea announced a pivot towards physical items, tokens & collectibles, rather than just hosting NFT trades.
The NFT market calm comes after a two-year slop in prices, as the digital art collectors saw most of the popular NFT collections slip by roughly 90%. This includes the Bored Ape Yacht Club (BAYC), Crypto Punks & many more.
Pudgy Penguins NFTs were among the lucky ones to make a comeback, having their shine in late 2024 at a 34.33 Ethereum (ETH) floor price.
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