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Nike quietly sells RTFKT: The inside story of the Web3 subsidiary change of ownership
【BitPush】Nike has quietly made a move—last month, they sold their digital product subsidiary RTFKT. The buyer and the terms of the deal were not disclosed, and it was completed quietly.
RTFKT previously announced the closure of its Web3 service operations in January this year, and now even the company itself has changed hands. This company has quite a background; it was acquired by Nike in 2021 and specializes in digital products.
This move indeed reflects a change in attitude among many traditional large companies toward Web3. They entered the market with great ambition but are now quietly divesting. Is the aftermath of the NFT boom really that bad, or have they just not found a reliable business model?