Nike Quietly Sold RTFKT at the End of 2025

Summary

• Nike finalized the sale of its virtual sneaker subsidiary, RTFKT, to an undisclosed buyer on December 17, 2025, marking a quiet but definitive exit from the blockchain-based collectibles market
• The divestment follows a year of scaling back digital operations under CEO Elliott Hill, whose “back-to-basics” strategy prioritizes core athletic performance, innovation, and rebuilding traditional wholesale partnerships
• This strategic shift arrives amid a sharp downturn in the NFT sector and ongoing legal pressure from a 2025 class-action lawsuit filed by investors who alleged the brand’s pivot devalued their digital assets

In a quiet but significant move to conclude the 2025 fiscal year, Nike has officially offloaded its virtual sneaker subsidiary, RTFKT. According to reports from Business of Fashion and The Oregonian, the divestment was finalized on December 17, 2025, marking the end of Nike’s ambitious but turbulent four-year experiment in the NFT and metaverse space.

The sale comes roughly a year after Nike initially signaled the end of the road for the digital studio. Under the leadership of CEO Elliott Hill, who took the helm in late 2024 with a “Win Now” mandate, the sportswear giant has been aggressively cutting non-core costs to refocus on its primary heritage: high-performance athletic footwear and wholesale partnerships. Hill’s strategy prioritizes physical innovation and rebuilding relationships with retailers like Foot Locker over the high-speculation digital collectibles market that defined the tenure of his predecessor, John Donahoe.

While Nike confirmed the transition to a new owner in a brief statement, describing it as a “new chapter” for the RTFKT community, the company has chosen to keep the buyer and the financial terms of the deal strictly confidential. The exit also follows a period of legal scrutiny; in April 2025, Nike was hit with a class-action lawsuit from investors who claimed the shuttering of RTFKT’s Web3 services constituted a “rug pull” that decimated the value of their digital assets. By offloading the brand entirely, Nike appears to be drawing a definitive line under its blockchain era to double down on the sports-first playbook that built the Swoosh.