Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 11910
Markets: 92185
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
11910
Cryptocurrencies
53.78%
Bitcoin Share
Crypto Potato 2024-12-03 22:41:36

Nike-Owned NFT Project RTFKT to Shut Down Operations in Early 2025

Nike-Owned NFT Project RTFKT to Shut Down Operations in Early 2025

RTFKT, the creators of non-fungible token (NFT) sneakers and avatars acquired by Nike in 2021, has announced its closure. The firm revealed in a December 2 post on X that it will wind down operations by January 2025. Final Collection and Legacy Tribute “Today, we’re announcing the plan to wind down RTFKT operations,” the post stated. “Looking back, we’re incredibly proud of everything we’ve achieved together.” RTFKT also outlined plans to release a final collection in December, the MNLTH X, featuring the BLADE DROP before its closure. The team described this move as a testament to its dedication to innovation and the merging of physical and digital realms. Reflecting on its achievements, the company highlighted its role at the forefront of digital culture, pioneering the integration of the sneaker lifestyle, gaming, digital fashion, and Web3 technology. The statement also highlighted its major contributions, including the Clone X collaboration with renowned artist Takashi Murakami, the development of digital footwear that transformed into physical products, and its support for 3D artists and digital creators. To preserve its legacy, the company announced plans to launch an updated website to showcase its most impactful projects. RTFKT’s Rise and Fall Founded in 2020, RTFKT quickly rose to prominence, raising at least $8 million from investors like Andreessen Horowitz. In December 2021, Nike took it over , with then-CEO John Donahoe describing the move as pivotal to accelerating the sports gear maker’s digital transformation. The two companies then partnered on various sneaker collections, even creating custom designs worn by NBA superstar LeBron James during the 2023 playoffs. According to DefiLlama data , the RTFKT’s total earnings reached nearly $50 million, including $45 million in royalties, ranking it ninth among NFT projects. Its most successful collections included the MNLTH and CloneX Mintvial drops, which generated $16.4 million and $13.9 million in royalties, respectively. However, challenges emerged as the broader market cooled. CryptoSlam data shows that year-to-date NFT sales have reached $9.9 billion, significantly lower than the $15.7 billion and $23.7 billion recorded in 2021 and 2022. In June, a Reuters report revealed that Nike had projected a decline in fiscal revenue for its NFT division, citing decreased demand. Notably, Clone X, RTFKT’s flagship profile picture (PFP) collection, also saw significant drops in valuation. All these factors ultimately resulted in the closure announced on Monday. The post Nike-Owned NFT Project RTFKT to Shut Down Operations in Early 2025 appeared first on CryptoPotato .

Most Read News



Cryptohopper
hardware wallets, hardware , wallets, Crypto Currency, Cryptocurrency hardware wallets, Crypto Apparal, crypto wallet, Cryptocurrency wallets

Market Cap
24h Vol
53.78%
Bitcoin Share
554
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.