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,...
28 Apr 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...
3 Dec 2024
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...
14 Dec 2021
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...
5 May 2021