Nike has reportedly sold its digital collectibles subsidiary RTFKT to an unnamed buyer, ending its direct ownership of the NFT platform.
RTFKT transitioned to a new owner on December 17, launching a new chapter for the company and its community.
A Nike spokesperson said.
The sale terms and identity of the buyer were not disclosed, and RTFKT’s website and social channels show no confirmation of renewed operations.
RTFKT previously announced plans to wind down operations after generating nearly $50 million in lifetime earnings from NFT drops.
The project launched independently in 2020 and was acquired by Nike in 2021 during the peak of the NFT market.
RTFKT ranks among the most successful NFT projects, recording over $49 million in lifetime revenue, according to DeFi Llama data.
Its collections include collaborations with Jeff Staple and Takashi Murakami, with trading volumes reaching about $1.5 billion.
Most trading activity has been driven by the CloneX series, which remains the project’s most influential collection.
Nike acquired RTFKT under former chief executive John Donahoe, whose tenure prioritised digital and direct-to-consumer strategies.
Reports note that Nike’s new chief executive Elliott Hill is refocusing the company on physical retail partnerships.