Nike: RTFKT, a subsidiary dedicated to Web3 & NFTs acquired in 2021, to "wind down operations"

Nike is "winding down" the operations of RTFKT, its subsidiary dedicated to Web3 activities and NFTs, with effect from January 2025, announced the American equipment manufacturer on 02/12/2024.

The brand had acquired the British start-up, valued at the time at $33m (€29.3m), in December 2021. As part of its Web3 strategy, the group also became...