Nike Exits The NFT Market – Shuts Down Its NFT Studio RTFKT
Nike, an American athletic footwear and apparel company renowned in the non-fungible token for its sneaker collectibles, has announced plans to exit the non-fungible token market in January 2025. Nike appears to be following the footprints of the crypto exchange Kraken, which also announced plans to wind down its non-fungible token marketplace. Kraken and Nike’s exit plans show that the NFT market has matured and is now scaling down weak brands and projects. Nike Shuts Down Its NFT Studio RTFKT In a December 02 press release, Nike confirmed plans to shut down its digital asset incubation studio RTFKT in January 2025. The athletic footwear and apparel company acquired its digital asset studio RTFKT in December 2021. Nike’s exit appears a time, when the non-fungible token market is retesting a strong bull run, which has pushed some floor prices back above 30 ETH. pic.twitter.com/ySShPa0I7r — RTFKT (@RTFKT) December 2, 2024 RTFKT is a digital asset incubation studi...