⚡ RTFKT, the Iconic NFT Sneaker Platform, Calls It Quits
posted 21 hr ago
The RTFKT NFT sneaker project will conclude its journey in January 2025, with one last collection to mark the occasion.
To mark the end of an era, RTFKT will launch a final collection, “BLADE DROP,” which the company describes as a tribute to their mission of innovation and uniting worlds.
The creators of RTFKT, best known for their bold virtual NFT sneaker designs, have announced the company will end operations by January 2025. Acquired by Nike in 2021, RTFKT has remained a pioneer in blending digital and physical fashion.
To mark the end of an era, RTFKT will launch a final collection, “BLADE DROP,” which the company describes as a tribute to their mission of innovation and uniting worlds.
DeFiLlama data places RTFKT 9th among the most profitable NFT projects, with total revenue of approximately $50 million, more than $45 million of which was earned through royalties.
RTFKT’s catalog features over 20 collections, amassing roughly $1.5 billion in trading volume, with CloneX standing out as the top performer.
RTFKT gained traction during the pandemic when many were confined at home, allowing more time to explore virtual worlds and the metaverse. However, interest in using digital tools for augmented reality and virtual interactions has since noticeably waned.
Nike’s acquisition was part of a larger effort to establish dominance in the metaverse, supporting athletes and creators through the fusion of sports, gaming, culture, and innovation.
Shutting down such a vibrant project is undoubtedly a challenging and bittersweet decision for Nike.
RTFKT’s catalog features over 20 collections, amassing roughly $1.5 billion in trading volume, with CloneX standing out as the top performer.
Top 10 NFT collections by revenue. Source: defillama.com
Launched in 2020, RTFKT secured $8 million in funding, with Andreessen Horowitz among its prominent investors. At the height of the NFT boom in December 2021, the company was acquired by Nike.
RTFKT gained traction during the pandemic when many were confined at home, allowing more time to explore virtual worlds and the metaverse. However, interest in using digital tools for augmented reality and virtual interactions has since noticeably waned.
Nike’s acquisition was part of a larger effort to establish dominance in the metaverse, supporting athletes and creators through the fusion of sports, gaming, culture, and innovation.
Shutting down such a vibrant project is undoubtedly a challenging and bittersweet decision for Nike.
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