2026-01-07 12:25:15

Did Nike's investment in NFTs and digital sneakers collapse? The company's recent sale of RTFKT, which it acquired in 2021, has raised many questions.

RTFKT was once a star name in the NFT world. It experienced rapid growth in 2020, and during the 2021-2022 bull market, its NFTs traded at approximately $1 billion. Its current situation is completely different: Nike announced in 2024 that it had ceased operations at RTFKT and then decided to sell the unit.

This move clearly demonstrates what the collapse of the NFT market means for institutional investors. The withdrawal of major brands from this space raises questions about the true potential of the market.

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GateUser-6bc33122

· 01-09 21:43

NFTs are really like this now, the hype was so intense, and now it's fallen so hard.

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fork_in_the_road

· 01-09 05:40

The NFT bubble has finally burst, Nike's move was truly brilliant. I knew it was over when Nike sold RTFKT. With big companies all leaving, what is there to look forward to? Falling from 1 billion USD to now, how embarrassing is that haha. Another Web3 dream shattered, poor crypto enthusiasts are still sleepwalking. Big brands are cutting losses and leaving, the ones playing behind are probably just the leeks. Is this the fate of the projects that were hyped the most? It cracks me up. Everyone who talks about a future of digital wearables should reflect on this.

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DefiPlaybook

· 01-07 12:55

According to on-chain data, Nike's withdrawal from RTFKT indeed reflects the risk characteristics of the entire NFT market—transaction volume of $100 million in 2021-2022 has essentially dropped to zero by 2024, with a decline of over 99%. It is worth noting that such "big company experimental failures" have become an important negative indicator for institutional investors when assessing Web3 risks.

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ZKProofster

· 01-07 12:54

nah actually, nike dumping rtfkt is just the classic "we bought the top" moment... technically speaking, they never understood the protocol layer anyway. big brands always chase hype instead of building real utility lol

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LiquidityNinja