Nike quietly offloads virtual sneaker subsidiary RTFKT

Sportswear giant Nike has sold RTFKT just over a year after it shuttered the virtual sneaker subsidiary. The move comes as the company continues to refocus on its sportswear business under the guidance of chief executive officer, Elliott Hill.

Nike confirmed the news in a statement initially issued to The Oregonlive, in which it said the sale, finalised December 17, 2025, marked the launch 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, including the identity of the buyer, were not made publicly available.

Nike acquired RTFKT late 2021, at the height of demand for non-fungible tokens (NFTs). Its takeover reflected the sportswear company’s embrace of the metaverse as a revenue channel, and ushered in plans to leverage next-generation collectibles through the virtual sneaker and fashion platform.

The concept was short-lived, however. Three years later, Nike announced it was shutting RTFKT down, instead shifting it into the role of a “symbol of cultural revolution”, with the platform to essentially continue as an archive.

The pivot aligned with an ongoing transformation strategy introduced following the appointment of Hill to the helm of Nike, returning the company’s core sports business and wholesale relationships to the spotlight.