According to a ChainCatcher report citing The Oregonian, Nike quietly sold its digital product subsidiary, RTFKT, last month. The specific terms of the sale, including the buyer's identity, have not been disclosed. RTFKT previously announced that it would cease its Web3 services by January 2025. RTFKT is a digital product company that was acquired by Nike in 2021.
Nike Quietly Sells Digital Product Subsidiary RTFKT
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Summary
According to ChainCatcher, Nike quietly sold its digital product subsidiary, RTFKT, last month. The buyer and transaction terms have not been disclosed. Acquired in 2021, RTFKT will cease its Web3 services by January 2025. Traders following cryptocurrency trading strategies may interpret this move as a shift in corporate value and investment approaches toward the crypto space.
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