Key notes
- Nike reportedly sold its RTFKT digital products unit in December 2025.
- No buyer or transaction terms disclosed, according to OregonLive.
- The NFT market cap stands at nearly $2.78 billion, down more than 67% year-over-year.
Nike reportedly sold its RTFKT digital products unit in December 2025, about a year after the company closed. The release of its high-profile digital bet comes as the company refocuses on its core sports products.
According to a recent report from OregonLive, the sale went live on December 16th. The buyer or financial terms of the stock have not yet been disclosed.
According to OregonLive, Nike quietly sold its digital products subsidiary RTFKT in December 2025, which it had acquired in 2021. RTFKT previously announced it would end its Web3 services in January 2025. Nike’s Converse brand reported a 30% drop in quarterly sales in December…
-Wu Blockchain (@WuBlockchain) January 7, 2026
Strategy change under new CEO
RTFKT was acquired by Nike in 2021 under former CEO John Donahoe, during a push into digital sales and virtual products. That strategy changed after Elliott Hill took over as CEO in late 2024. Hill spent his second year moving Nike back to sports, footwear and wholesale partners.
The sale of RTFKT also comes as questions arise around other parts of Nike’s portfolio. In December, Nike’s Converse brand reported a 30% sales decline in the fourth quarter of 2025. Shortly after, some analysts floated the idea of a possible sale of the brand, although Nike has not confirmed any plans.
Nike first announced that it would shut down RTFKT in January 2025 after slowing down active drops. At the time, the company announced that it would pause production of NFTs but would continue to work with video game companies on virtual items such as in-game wearables.
Weakness of the NFT market
The release of RTFKT comes during a broad recession in the NFT market. Monthly NFT sales fell to $320 million in November 2025 and fell further in December. Data shows that the total NFT market cap currently stands at around $2.78 billion, down more than 67% over the past year.
The main NFT platforms have changed course in the face of this market weakness. OpenSea led NFT trading earlier in 2025, but CEO Devin Finzer said in October that the platform would move from an NFT-only business model to a broader business model covering tokens, collectibles and physical goods.
In March 2025, X2Y2 shut down its NFT operations due to lack of market interest and shifted its focus to AI. Rarible also rolled out a new rewards model for traders in September after saying previous setups “were not sustainable.”
Event activity has also cooled. The organizers behind NFT Paris and RWA Paris recently canceled their February 2026 plans with a month’s notice, citing market conditions.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article is intended to provide accurate and current information, but should not be considered financial or investment advice. Because market conditions can change quickly, we encourage you to verify the information for yourself and consult a professional before making any decisions based on this content.
A crypto journalist with over 5 years of industry experience, Parth has worked with leading media outlets in the crypto and finance world, gaining experience and expertise in the field after surviving both bear and bull markets over the years. Parth is also the author of 4 self-published books.
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