report: report: Nike sells its NFT and virtual sneakers amid lack of digital art market interest

Deal follows NFT shutdown as Nike retreats from digital collectibles amid cooling market demand What to know : Nike quietly sold its NFT subsidiary RTFKT in December, marking a strategic shift from its digital collectibles venture. The sale comes amid a broader contraction in the NFT market, with other major players also scaling back operations. Nike's divestment aligns with CEO Elliott Hill's focus on core sports business and wholesale partnerships.