The sneaker industry is always on a roll, and so is the virtual side of it. However, it seems like Nike is going through the motions, especially after the CEO change! Some changes are on the lowkey, while others are pretty huge. And well, with Nike shutting down RTFKT, you know that the jig is up. What will the future of digital sneakers look like with one of the big players actually out of the game? Let’s dive into the RTFKT story and how we got here, shall we?
What Is RTFKT?
RTFKT Studios is a company that kicked off in 2020 just as interest in NFTs spiked up. And naturally, one of the parties that was trying to get into the digital space was Nike. That’s why by the end of 2021, the Swoosh acquired RTFKT studios, and the sneaker projects came pouring in! And honestly, the projects that came out of this partnership were head-turners. However, it seems like the new Nike leadership doesn’t agree with this because we have some heartbreaking news for ya.
Nike Shutting Down RTFKT – Beautiful Things Have to End
Four years after its inception, we’re gonna say goodbye to the RTFKT project. It seems like Elliott Hill, the new Nike CEO, got straight to business with no room for errors. You see, RTFKT took to X on December 2, 2024, to announce that it will wind down operations. The announcement stated that in December RTFKT will drop its last project, the MNLTH X. However, starting January 2025, the RTFKT website will stop web3 operation. Instead, it will become like a gallery that showcases all the previous projects that RTFKT put out.
With Nike Shutting Down RTFKT, What Will Happen?
Well, it seems like we’re all gonna circle back to the OG love we have for sneakers. While digital kicks have their charm, nothing beats a classic pair of kicks. So, why not get into sneaker reselling if you wanna stick to the sneaker game? Luckily for you, we have just the thing for you! Whether you wanna buy kicks for personal use or to go into the resale business, you need to know how to buy sneakers for retail! We aint gonna go into the details now, but we have just the guide for you. Check it out, and who knows? His could be the start of something new. Godspeed!
