Design

I wonder how Nike held on for so long? Nike is now laying off employees who were responsible for the web3 division. The company is implementing their cost optimization plan that will save them $2 billion. So they are now focusing on innovation for their core products and taking the focus away from areas they deem not a priority.

Nike actively entered the world of web3 and NFT, bought the whole company RTFKT, which created NFT-sneakers and obviously counted on super profits from all this.

Optimization touched not only the web3 sphere, the company also closed the NIKELAND space in Roblox. It seems that now Nike will approach the introduction of high-growth innovations with more restraint.