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Nike Abandons RTFKT—The Real Reason Behind the Quiet Sale!

Nike has officially closed the book on its experiment with digital collectibles. Just one year after shutting down its hyped NFT subsidiary RTFKT—pronounced “artifact”—the sportswear giant has now sold the unit, quietly exiting a space it once called “the future of product innovation.” The move marks a symbolic end to Nike’s Web3 ambitions and offers a window into the deeper transformation happening inside the company under CEO Elliott Hill. Since taking the reins, Hill has made no secret of his plan to return Nike to its roots: a focus on core sports innovation, mending wholesale relationships, and driving disciplined execution after years of brand sprawl and strategic drift. With sales soft in China, digital under pressure, and margins weighed down by tariffs and overhang from past decisions, the Nike shuts RTFKT unit headline tells more than just a story of NFTs gone cold.