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Nike’s ownership of RTFKT has come to an end.
The company quietly offloaded the virtual sneaker brand in a sale last month.
“RTFKT transitioned to a new owner on December 17, launching a new chapter for the company and its community," Nike said in a statement. The company did not disclose the terms of the sale or the buyer. The Oregonian was first to report the news.
RTFKT, which Nike bought in a surprise move at the height of the NFT craze in 2021, had long since wound down operations. In December 2024, shortly after Elliott Hill took over as Nike’s new chief executive with a mission to refocus the brand on its core in sports, RTFKT revealed that it would soon halt services.
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Nike’s sale of RTFKT comes just a few months after the death of co-founder Benoit Pagotto.
Learn more:
Nike-Owned Virtual Sneaker Brand RTFKT Is Shutting Down
The virtual sneaker and fashion brand will cease operations at a moment when Nike is reassessing priorities under new CEO Elliott Hill.
