Nike withdraws from NFT market, sells RTFKT division, digital sales fall

Nike\'s high-profile non-homogeneous token (NFT) experiment has finally come to an end and the company has sold its RTFKT division. To focus on its core business, the shoe giant sold its digital products division.

● Nike sold the RTFKT unit, marking its significant exit from the NFT market.

● The sale is in line with Nike\'s strategic transformation into its core sports business.

● It highlights the challenges faced in maintaining NFT corporate operations during market downturns.

The move comes amid the recent downturn in the NFT market, with the industry falling more than 67% year-on-year. Despite a good start to 2026, these assets are far from meeting original expectations.

It is worth noting that Nike\'s decision to withdraw from the digital collectibles field has raised questions about the future direction of virtual sneakers. This has also sparked a new round of discussion about the role of NFT in the sportswear industry.

Why did Nike abandon the NFT plan?

According to a recent article published by Wu Blockchain, Nike has completed the sale of its digital products and NFT subsidiary RTFKT. This marks the company\'s official exit from the NFT field. Although Nike released the news, it did not disclose the identity of the buyer or the specific amount of the transaction.

It is reported that the sale transaction between Nike and RTFKT has been finalized around December 16, 2025. The previous year, the company had stopped RTFKT operations. Nike said the sale of RTFKT marks a \"new chapter for the company and its community.\"

Notably, Nike\'s RTFKT plan is also in line with CEO Elliot Hill\'s strategic priorities. Hill, who takes office in 2024, hopes to focus on the company\'s core sports business and strengthen relationships with wholesalers.

By selling RTFKT, the company is shifting its business focus from blockchain-based consumer goods to its core sportswear business. The company will also seek to establish selective partnerships with game companies.

It is worth noting that the company\'s decision to abandon the NFT project stems from the recent industry downturn. The market continues to fall sharply from its peak in 2021. In addition, due to the inability to attract new investors, the overall trading volume of non-homogeneous tokens (NFT) also fell sharply.

However, the NFT field is currently experiencing a significant recovery. Since the beginning of 2026, the market has shown significant growth momentum and attracted more investors. As previously reported by Blockchain Era, the NFT market has made significant progress in both sales and market capitalisation.

Detailed explanation of legal challenges

At the peak of the market, Nike invested heavily in RTFKT, demonstrating its strong interest in exploring the field of digital art. However, as the market began to decline, Nike stopped operating RTFKT and decided to focus on its own business. Previously, Nike also faced legal challenges, with investors accusing the company of being responsible for approximately $5 million in losses related to RTFKT assets.

RTFKT NFT sold for thousands of dollars in its heyday because it promised its holder a unique experience. However, as the market environment deteriorated, they were unable to deliver on their promises; user engagement fell and prices plummeted, eventually leading to the company\'s collapse. This caused millions of dollars in losses to investors.

After Nike officially suspended RTFKT operations, a class-action lawsuit was triggered against the sports giant. Investors claimed that the shutdown caused the devaluation of their tokens. They also pointed out that Nike made unrealistic promises. The lawsuit seeks $5 million in damages, highlighting the contradiction between NFT marketing and its reliance on brand engagement.