Nike Exits NFT Market by Selling RTFKT Amid Declining Digital Art Demand
- Strategic Exit: Nike quietly sold its NFT subsidiary RTFKT in December 2025, marking a full exit from the digital collectibles space, reflecting a sharp shift in sentiment since the market's peak in 2021.
- Market Contraction: The NFT sector has faced prolonged contraction, with significant declines in trading volumes and mainstream engagement, eroding the commercial rationale for large consumer brands to maintain in-house digital collectible studios, prompting Nike's strategic reassessment.
- Leadership Shift: Under new CEO Elliott Hill, Nike is refocusing on its core business, and the sale of RTFKT helps streamline operations while reducing exposure to volatile digital asset markets, aligning with the company's strategic pivot.
- Legal Risks: The sale follows Nike's announcement to wind down RTFKT by January 2025, which triggered a class-action lawsuit from investors claiming the shutdown was a “rug pull,” seeking over $5 million in damages, indicating Nike's decision to sever ties completely with the business.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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