RTFKT news and archive

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,...

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Nike faces five million dollar lawsuit over closure of crypto business

Nike is facing a proposed class action lawsuit in regards to the closure of its cryptocurrency business, RTFKT. Plaintiffs in the case are accusing the sportswear giant of leaving them with significant losses after the platform’s shuttering caused demand for their non-fungible tokens (NFTs) to wane. Filed with the Eastern District of New York,...

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Nike Shuts Metaverse Fashion Company Rtfkt: Last Collection in January 2025

Nike is shutting down Rtfkt, its metaverse fashion company known for digital sneakers and NFTs. In January 2025, Rtfkt will release one final collection, Blade Drop . The company itself announced the news via X (formerly Twitter). Summary • Nike is shutting down its metaverse fashion subsidiary, Rtfkt, in January 2025 after a final collection...

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Nike acquires virtual sneaker and fashion start-up RTFKT

NFTs with an iconic swoosh? Sneakers for your avatar? Nike is officially embracing the metaverse as a revenue channel, announcing on Tuesday it acquired RTFKT, a virtual sneaker sneaker and fashion platform that leverages cutting edge innovation to deliver next generation collectibles merging culture and gaming. “This acquisition is another step...

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Virtual Fashion Platform Rtfkt Raises 8 Million dollars: 'People Spend More Time in the Virtual World'

Platform for virtual fashion Rtfkt has raised a total amount of 8 million dollars (converted 6.7 million euros) in an investment round, according to a press release in the hands of Business of Fashion. The investment is intended to expand the team and further expand the online platform, Business of Fashion writes. Rtfkt specializes in virtual...