Nike-Owned NFT Wearables Project RTFKT to Shut Down in January

Nike-owned NFT wearables company RTFKT is set to sunset in January, marking the end of a project tied to one of the most visible consumer-brand pushes into digital collectibles.

The move matters because RTFKT sat at the intersection of sneakers, fashion, gaming culture and NFTs. Its shutdown highlights how parts of the NFT sector have cooled since the 2021 cycle, when major brands and venture investors were actively exploring digital ownership and virtual wearables.

RTFKT received investment funding from Andreessen Horowitz during the peak of NFT summer in 2021, a period when NFT projects attracted significant attention from crypto users, creators and mainstream companies.

Nike’s ownership made RTFKT a closely watched example of how a global apparel brand could experiment with blockchain-linked products and digital culture. Its planned closure shows that even high-profile brand-backed NFT ventures have faced a more difficult environment after the market’s earlier surge.

The development adds another cultural marker to the post-boom NFT landscape, where projects connected to fashion and collectibles continue to be judged by long-term demand rather than early-cycle hype.