{"id":17920,"date":"2024-12-04T17:30:26","date_gmt":"2024-12-04T17:30:26","guid":{"rendered":"https:\/\/nft.runfyers.com\/index.php\/2024\/12\/04\/nike-to-close-rtfkt-operations-by-january-2025\/"},"modified":"2024-12-04T17:30:26","modified_gmt":"2024-12-04T17:30:26","slug":"nike-to-close-rtfkt-operations-by-january-2025","status":"publish","type":"post","link":"https:\/\/nft.runfyers.com\/index.php\/2024\/12\/04\/nike-to-close-rtfkt-operations-by-january-2025\/","title":{"rendered":"Nike to Close RTFKT Operations by January 2025"},"content":{"rendered":"<p><\/p>\n<div>\n<p><a href=\"https:\/\/x.com\/Nike\" target=\"_blank\" rel=\"noopener\">Nike<\/a> has announced plans to wind down operations of <a href=\"https:\/\/x.com\/RTFKT\" target=\"_blank\" rel=\"noopener\">RTFKT,<\/a> its blockchain-focused sneaker brand, by January 2025. This decision, shared via RTFKT\u2019s official account on X, marks the end of the brand\u2019s web3 initiatives.<\/p>\n<p><a href=\"https:\/\/x.com\/RTFKT\/status\/1863621178532773928\" target=\"_blank\" rel=\"noopener\">In their statement,<\/a> RTFKT thanked their community of creators and collectors, revealing plans to launch a new website documenting the brand\u2019s journey and host one final product release, the MNLTH X drop, scheduled for December.<\/p>\n<p>The announcement has sparked uncertainty about the future of RTFKT\u2019s flagship NFT projects, including the highly regarded CloneX collection, a collaboration with Japanese artist <a href=\"https:\/\/nftplazas.com\/takashi-murakami-gagosian\/\" target=\"_blank\" rel=\"noopener\">Takashi Murakami.<\/a><\/p>\n<figure id=\"attachment_77406\" aria-describedby=\"caption-attachment-77406\" style=\"width: 800px\" class=\"wp-caption aligncenter\"><figcaption id=\"caption-attachment-77406\" class=\"wp-caption-text\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-77406 size-full lazyload\" src=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/12\/nike-to-close-rtfkt-operations-official-announcement.webp\" alt=\"RTFKT Official Announcement\" width=\"800\" height=\"448\" srcset=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/12\/nike-to-close-rtfkt-operations-official-announcement.webp 800w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/12\/nike-to-close-rtfkt-operations-official-announcement-300x168.webp 300w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/12\/nike-to-close-rtfkt-operations-official-announcement-768x430.webp 768w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/12\/nike-to-close-rtfkt-operations-official-announcement-370x207.webp 370w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/12\/nike-to-close-rtfkt-operations-official-announcement-760x426.webp 760w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/12\/nike-to-close-rtfkt-operations-official-announcement-270x152.webp 270w\" sizes=\"(max-width: 800px) 100vw, 800px\"\/><\/noscript> Source: RTFKT<\/figcaption><\/figure>\n<h2><b>Why is Nike shutting down RTFKT?<\/b><\/h2>\n<p>The closure comes as Nike undergoes internal restructuring under its new CEO, Elliott Hill, who took office in October 2024. Whilst specific reasons for the shutdown were not detailed, industry observers believe it may reflect a broader strategic shift to realign the company\u2019s focus on core brand initiatives<\/p>\n<p><a href=\"https:\/\/nftplazas.com\/nike-acquires-nft-fashion-studio-rtfkt\/\" target=\"_blank\" rel=\"noopener\">Since its acquisition by Nike,<\/a> RTFKT has been known for two standout products: the <a href=\"https:\/\/nftplazas.com\/rtfkt-clone-x-avatar\/\" target=\"_blank\" rel=\"noopener\">CloneX NFT collection,<\/a> launched in 2021 with Murakami\u2019s collaboration, and its hybrid sneakers, which combined physical and digital innovation by linking exclusive sneakers to NFTs.<\/p>\n<p>The official announcement provided limited information on the brand\u2019s next steps, with assurances that updates would follow through RTFKT\u2019s channels.<\/p>\n<figure id=\"attachment_77407\" aria-describedby=\"caption-attachment-77407\" style=\"width: 800px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-77407 lazyload\" src=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/12\/nike-to-close-rtfkt-operations-public-bid-to-acquire.webp\" alt=\"Public Bids to Acquire RTFKT Assets\" width=\"800\" height=\"448\"\/><figcaption id=\"caption-attachment-77407\" class=\"wp-caption-text\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-77407 lazyload\" src=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/12\/nike-to-close-rtfkt-operations-public-bid-to-acquire.webp\" alt=\"Public Bids to Acquire RTFKT Assets\" width=\"800\" height=\"448\" srcset=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/12\/nike-to-close-rtfkt-operations-public-bid-to-acquire.webp 800w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/12\/nike-to-close-rtfkt-operations-public-bid-to-acquire-300x168.webp 300w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/12\/nike-to-close-rtfkt-operations-public-bid-to-acquire-768x430.webp 768w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/12\/nike-to-close-rtfkt-operations-public-bid-to-acquire-370x207.webp 370w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/12\/nike-to-close-rtfkt-operations-public-bid-to-acquire-760x426.webp 760w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/12\/nike-to-close-rtfkt-operations-public-bid-to-acquire-270x152.webp 270w\" sizes=\"(max-width: 800px) 100vw, 800px\"\/><\/noscript> Source: @JoeyMooose on X<\/figcaption><\/figure>\n<h2><strong>Public Bids to Acquire RTFKT Assets<\/strong><\/h2>\n<p>Following the announcement, several individuals expressed interest in acquiring RTFKT\u2019s intellectual property and NFT collections.<\/p>\n<p>Within half an hour, influencer <a href=\"https:\/\/x.com\/waleswoosh\/status\/1863627340078571994\" target=\"_blank\" rel=\"noopener\">@waleswoosh<\/a> made a public bid of $200,000. Soon after, <a href=\"https:\/\/x.com\/JoeyMooose\/status\/1863630470346322207\" target=\"_blank\" rel=\"noopener\">@JoeyMooose,<\/a> associated with the <a href=\"https:\/\/nftplazas.com\/pudgy-penguins-guide-2024\/\" target=\"_blank\" rel=\"noopener\">Pudgy Penguins<\/a> NFT project, offered $10 million for the brand. Rumors of additional bids have also surfaced, including potential interest from Alexandre Dreyfus, CEO of sports blockchain platform Chiliz.<\/p>\n<p>As of now, neither Nike nor <a href=\"https:\/\/nftplazas.com\/nike-and-rtfkt-sneakers\/\" target=\"_blank\" rel=\"noopener\">RTFKT<\/a> has commented on these offers, leaving the future of the brand and its assets in question.<\/p>\n<\/div>\n<p><a href=\"https:\/\/nftplazas.com\/nike-to-close-rtfkt-operations\/\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nike has announced plans to wind down operations of RTFKT, its blockchain-focused sneaker brand, by January 2025. This decision, shared via RTFKT\u2019s official account on X, marks the end of the brand\u2019s web3 initiatives. In their statement, RTFKT thanked their community of creators and collectors, revealing plans to launch a new website documenting the brand\u2019s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17921,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[16],"tags":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/12\/nike-to-close-rtfkt-operations-social.webp","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/17920"}],"collection":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=17920"}],"version-history":[{"count":0,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/17920\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/17921"}],"wp:attachment":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=17920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=17920"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=17920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}