RTFKT, a Web3 Fashion Pioneer, Shuts Down

RTFKT, the Web3 streetwear brand acquired by Nike in 2021, announced plans to cease operations by January 2025. The brand was known for merging sneaker culture, gaming, digital fashion, and Web3 technology, achieving significant success with $185.3 million in NFT sales. However, the market for fashion NFTs has waned, leading to RTFKT's closure.

A pioneer in Web3 fashion, RTFKT's closure reflects the shifting trends in the NFT market. Despite early success, the decrease in demand for fashion NFTs has led to this decision. A reminder of the evolving nature of the digital fashion landscape.