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Gate Square New & Returning Creator Rewards are ongoing!
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Nike sells its NFT and virtual sneakers amid lack of digital art market interest: report
Source: CryptoNewsNet Original Title: Nike sells its NFT and virtual sneakers amid lack of digital art market interest: report Original Link: Nike (NKE) discreetly sold RTFKT, its once-high-profile digital products and non-fungible token (NFT) subsidiary, roughly a year after shutting down the business.
The sale took place on Dec. 16, with Nike calling the sale of its NFT unit “a new chapter for the company and its community.” Nike did not disclose the buyer or financial terms of the deal.
The retrenchment has extended beyond Nike, as the broader NFT sector continues to contract from its major boom back in 2021. NFT marketplace X2Y2 announced it would sunset operations following a sharp decline in trading volumes, while NFT Paris, once one of the industry’s flagship conferences, also announced it canceled its 2026 event.