The reported divestment follows Nike’s closure of its digital collectibles unit and comes as market pressures continue to weigh on NFTs.
Footwear conglomerate Nike has quietly offloaded RTFKT, the digital collectibles studio it acquired at the height of the non-fungible token (NFT) boom, according to a report by The Oregonian.
The transaction reportedly happened in December, though neither the buyer nor the financial terms have been disclosed. The quiet exit happened almost a year after Nike announced that it was shutting down its RTFKT subsidiary.
Nike has not publicly confirmed the sale, saying only in a brief statement published by The Oregonian that the transaction marked a new chapter for RTFKT and its community. The company said that it continues to invest in digital experiences, mentioning partnerships with gaming platforms.
