US sporting goods giant Nike has sold RTFKT. The sale comes just over a year after the virtual sneaker subsidiary was shut down. This move comes as the company refocuses its sportswear business under the leadership of Chief Executive Officer (CEO) Elliott Hill.
Nike confirmed the news in a statement, first reported by US daily The Oregonlive. It said the sale, completed in December 2025, marked the beginning of “a new chapter for the company and its community.”
“Nike continues to invest in delivering innovative products and experiences across physical, digital and virtual environments,” the statement continued. The terms and financial details of the sale were not disclosed. The identity of the buyer was also not disclosed.
Nike acquired RTFKT at the end of 2021. This happened at the peak of demand for Non-Fungible Tokens (NFTs). The acquisition reflected the sporting goods maker’s turn to the Metaverse as a revenue stream. Plans have also been initiated to leverage next-generation collectibles through the virtual sneaker and fashion platform.
However, the concept was short-lived. Three years later, Nike announced the closure of RTFKT. The platform instead became a ‘symbol of the cultural revolution’ and was intended to continue to operate essentially as an archive.
The realignment was in line with an ongoing transformation strategy. This was introduced following Hill’s appointment at the helm of Nike. The strategy puts the focus back on the company’s core business in the sports sector and its relationships with wholesalers.
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