Nike Is Killing Its Ethereum NFT• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » NFT - невзаимозаменяемый токен Sneaker and
Avatar Company RTFKT
Nike Is Killing Its Ethereum NFT• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » NFT - невзаимозаменяемый токен Sneaker and Avatar Company RTFKT
Three years after being acquired by Nike and launching both digital and
physical sneakers featuring the iconic swoosh, RTFKT is closing down.
By Logan Hitchcock
Dec 2, 2024 Dec 2, 2024
•
3 min read
Nike x RTFKT Dunk Ghost Edition. Image: Nike
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RTFKT, a digital fashion and technology company that was acquired by Nike in
2021, is shutting down.
“Today we’re announcing the plan to wind down RTFKT operations,” the company
said in a statement on X , formerly known as Twitter• Объект организация » Организации по алфавиту » Организации на Tw » Twitter, Inc.. “Looking back we’re
incredibly proud of everything we’ve achieved together.”
The company (pronounced "artifact"), which burst onto the digital collectible
scene in 2021 selling $10,000 sneakers on Nifty Gateway , built a sprawling
ecosystem of Ethereum -based NFTs and physical collectibles over the years,
partnering with artists like Takashi Murakami along the way.
pic.twitter.com/ySShPa0I7r
— RTFKT (@RTFKT) December 2, 2024
In December 2021, it was acquired by Nike for an undisclosed sum, a move which
former Nike CEO and President John Donahoe highlighted as a step to accelerate
“Nike’s digital transformation and allows us to serve athletes and creators at
the intersection of sport, creativity, gaming and culture.”
Nike and RTFKT worked on a number of shoe collections together, even finding
the foot of NBA superstar LeBron James amid the league playoffs in 2023.
But ultimately, declining prices for its NFT• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » NFT - невзаимозаменяемый токен collections—most notably Clone X,
its flagship profile picture (PFP) set—and broader disinterest in NFTs
followed, ultimately resulting in the closure announced Monday.
Back in March, crypto influencer Nick O’Neill shared a rumor on X that Nike
would shut down RTFKT in 2024, to which pseudonymous RTFKT co-founder Zaptio
responded, “Seems like we missed the memo on our shutdown .”.
Nike gave further hints to the rumor in September 2024 when it left the RTFKT
logo out of its brand lineup in a press release detailing Donahoe’s agreement
to retire from his position as Nike President and CEO. Donahoe led the sneaker
giant at the time of the RTFKT acquisition.
Some in the Web3 community have offered to revive the RTFKT brand, sending
pleas on X with offers of more than $100,000 for a chance at a “Luca Netz
moment.” It’s a nod to the takeover Netz had with Pudgy Penguins, an NFT
collection• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » NFT - невзаимозаменяемый токен that was plummeting before his purchase in 2022 and has since gone
on to become a leading Web3-enabled brand for toys and more.
Nike will maintain a presence in Web3 with its virtual creations platform,
.Swoosh which it first launched in November 2022 via Ethereum scaling network
Polygon.
Representatives for Nike did not immediately respond to Decrypt's request
for comment on how .Swoosh would be impacted by the discontinuation of RTFKT,
but a recent blog post from the platform indicates it “won’t be launching any
more NFT• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » NFT - невзаимозаменяемый токен collections for now. ”
Prior to ending its operations, RTFKT is planning to launch a final project
this December: the MNLTH X featuring the Blade Drop. No official details about
the project have been provided.
“RTKFT isn’t ending,” the firm wrote. “It’s becoming what it was always meant
to be—an artifact of cultural revolution.”
Clone X saw increased trading volume on the news, but the average sale price
declined by more than 44% according to data from NFT• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » NFT - невзаимозаменяемый токен Price Floor. The
collection registered an all-time high floor price of more than $63,000 in
2022, but now the NFTs start at less than $1,000 worth of ETH on secondary
marketplaces.
Edited by Andrew Hayward
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