Nike-Owned RTFKT Announces to Cease Web3 Operations

NFT Web3

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Hongji Feng

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Hongji Feng

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Hongji is a crypto and tech reporter. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX (Huobi Global),...

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December 2, 2024

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Nike-owned digital fashion and web3 studio RTFKT announced plans on December 2 to wind down operations.

According to an announcement shared on RTFKT’s social media channels, its Web3 services will cease by the end of January 2025. The company cited a transition to preserving its legacy through an updated website showcasing its previous projects.

RTFKT to End Web3 Services in January 2025

RTFKT, known for its work at the intersection of digital fashion, gaming, and web3 technology, will have its updated website featuring key achievements, such as its collaborations with artists like Takashi Murakami and the introduction of digital-to-physical sneakers.

The announcement noted the conclusion of web3 services but reassured the community that specific information regarding collections, websites, and services will be provided through official channels, including its Discord platform.

Before operations cease, RTFKT plans to release one final project in December 2024. This launch, called “MNLTH X featuring the BLADE DROP,” is described as a continuation of its efforts to innovate at the crossroads of digital and physical experiences.

Adidas Partners with StepN Go to Introduce NFT

Adidas has teamed up with StepN Go for the second time this year to launch the Genesis Sneakers NFT collection on the Solana blockchain. This collaboration followed their initial partnership in April 2024, which saw notable success in merging fashion with fitness in the web3 world.

The Genesis Sneakers collection was exclusively offered via a raffle mint hosted on the MOOAR NFT marketplace, a platform operated by FLS, the development studio behind StepN Go.

Each raffle entry cost 10,000 GMT, the app’s native token, with refunds available for non-winning entries.

Limited to 1,000 pairs, the collection emphasized exclusivity for fitness enthusiasts and digital fashion collectors.