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TLDR:
Nike completed the sale of RTFKT on December 16, 2025, without disclosing buyer identity or terms.
CEO Elliott Hill shifts focus from digital-first strategy to sports products and wholesale partnerships.
Nike maintains virtual presence through Fortnite and EA Sports gaming partnerships despite RTFKT exit.
Converse brand faces 30% quarterly sales drop, prompting speculation about potential divestiture plans.,
Nike has officially sold its digital products subsidiary RTFKT in December 2025, according to OregonLive. The transaction marks the end of a brief chapter in the sportswear giant’s digital asset ventures.
Nike acquired the Web3 company in 2021 during a period of aggressive digital expansion. The sale comes after RTFKT announced plans to end its Web3 services in January 2025. Nike has not disclosed the buyer or financial terms of the transaction.
Strategic Shift Under New Leadership
The RTFKT sale reflects Nike’s broader strategic realignment under CEO Elliott Hill. Hill, now in his second year leading the company, has prioritized sports-focused initiatives.
The approach differs from his predecessor’s strategy. Former CEO John Donahoe emphasized direct-to-consumer and digital sales channels during his tenure.
Nike completed the transaction on December 16, 2025. In a brief statement, the company said the sale was effective December 16, “launching a new chapter for the company and its community.” However, Nike did not provide additional details about the subsidiary’s future operations. The sale aligns with Hill’s efforts to rebuild wholesale relationships with major retailers.
Nike has renewed partnerships with Dick’s Sporting Goods and Foot Locker. These partnerships represent a return to traditional retail channels.
The move signals a departure from the previous digital-first approach that characterized the Donahoe era.
Challenges in Digital Collectibles Market
RTFKT specialized in creating non-fungible tokens and digital collectibles. The subsidiary announced it would halt NFT production before the sale.
Despite divesting RTFKT, Nike emphasized its ongoing commitment to digital innovation. “Nike continues to invest in delivering innovative products and experiences across physical, digital, and virtual environments,” the company said in the statement.
Nike partnered with Fortnite in late 2024 for digital products. The company also maintains a partnership with EA Sports established in 2023. These gaming partnerships offer alternative avenues for digital product distribution.
Nike plans to develop virtual products and in-game wearables through these collaborations. The arrangements allow Nike to maintain a presence in virtual environments without dedicated NFT operations.
The RTFKT sale occurs amid broader challenges for Nike. The company’s Converse brand reported a 30% quarterly sales decline in December 2025.
This drop prompted speculation from BNP Paribas analysts about a potential Converse sale. Meanwhile, an investor filed a lawsuit against Nike over RTFKT’s closure.
The lawsuit alleges Nike devalued virtual sneakers owned by investors. Nike filed a motion to dismiss the case in December 2025.
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