Nike quietly sells RTFKT amid Web3 downturn and plummeting sales

According to OregonLive, Nike quietly sold its digital product subsidiary RTFKT in December 2025, marking a discreet withdrawal from a Web3 project that was once highly anticipated. Nike acquired RTFKT in 2021, at a time when NFTs and digital fashion were booming, with the ambition to lead digital innovation trends.

However, RTFKT had previously announced it would cease Web3 services in January 2025, indicating that the withdrawal plan had been set early on. The deal took place amid Nike facing more challenges. During the same period, Nike’s Converse brand reported a sharp 30% quarterly sales decline, reflecting pressures from waning consumer demand. Notably, Nike did not disclose the buyer or the financial terms of the RTFKT transaction, suggesting this was a cautious move to streamline operations amid changing market conditions.