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

Web3 Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Nike sells its NFT and virtual sneakers amid lack of digital art market interest: report Deal follows NFT shutdown as Nike retreats from digital collectibles amid cooling market demand By Olivier Acuna | Edited by Jamie Crawley Jan 7, 2026, 12:08 p.m. Make us preferred on Google Nike quitely sells off its NFT unit. (Photo by wu yi on Unsplash/Modified by CoinDesk) 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. Nike (NKE) discreetly sold RTFKT, its once-high-profile digital products and non-fungible token (NFT) subsidiary, roughly a year after shutting down the business, according to The Oregonian. The sale took place on Dec. 16, according to the report, citing a Nike statement in which the global sportswear brand called the sale of its NFT unit “a new chapter for the company and its community.” Nike did not disclose the buyer or financial terms of the deal and did not immediately respond to CoinDesk’s request for comment. STORY CONTINUES BELOW Don't miss another story. Subscribe to the The Protocol Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . The retrenchment has extended beyond Nike, as the broader NFT sector continues to contract from its major boom back in 2021. NFT marketplace X2Y2 announced it would sunset operations following a sharp decline in trading volumes, while NFT Paris, once one of the industry’s flagship conferences, also announced it canceled its 2026 event . “Nike continues to invest in delivering innovative products and experiences across physical, digital and virtual environments,” Nike said in the statement, according to the report Nike acquired RTFKT, pronounced “artifact,” in late 2021 at the height of the NFT boom, as the sportswear giant expanded into digital collectibles, virtual sneakers and blockchain-based products. The studio quickly became one of the most prominent brands in the NFT space, collaborating with artists and releasing digital sneakers that at times sold for thousands of dollars. In late 2024, Nike announced plans to shutter RTFKT’s operations in late 2024 in an X post , citing a pullback from NFTs while continuing to pursue digital and virtual products through partnerships with video game companies. The shutdown sparked a class-action lawsuit filed in Brooklyn, New York in April 2025, with investors alleging they suffered significant losses and damages of more than $5 million. The divestment comes under Nike's CEO Elliott Hill, who took over in 2024 and has been refocusing Nike on its core sports business and rebuilding wholesale partnerships. Nike RTFKT NFT NFTs More For You KuCoin Hits Record Market Share as 2025 Volumes Outpace Crypto Market By CoinDesk Research Dec 22, 2025 Commissioned by KuCoin KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market. What to know : KuCoin recorded over $1.25 trillion in total trading volume in 2025 , equivalent to an average of roughly $114 billion per month , marking its strongest year on record. This performance translated into an all-time high share of centralised exchange volume , as KuCoin’s activity expanded faster than aggregate CEX volumes , which slowed during periods of lower market volatility. Spot and derivatives volumes were evenly split , each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line. Altcoins accounted for the majority of trading activity , reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover. Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity , indicating structurally higher user engagement rather than short-lived volume spikes. View Full Report More For You Circle platform promising tokenized gold, silver swaps is 'fake,' company says By Francisco Rodrigues | Edited by Nikhilesh De , Aoyon Ashraf Dec 24, 2025 The release, distributed on Christmas Eve, used Circle branding and claimed to quote executives, but a Circle spokesperson said it was "not real." What to know : A fake press release claimed that Circle, the issuer of USDC, had launched a new platform called CircleMetals, offering tokenized gold and silver trading. The release, distributed on Christmas Eve, used Circle branding and quoted executives, but was later confirmed to be fake by the company. The fake platform, which remains live, appears to be a scam, with links to a swap platform and promises of rewards, but there is no evidence to suggest that the tokenized gold and silver tokens actually exist. 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