Market
What will be cited as the primary reason for RTFKT's shutdown by March 31, 2025?
2
Resolution / Starting Odds
Financial Mismanagement • 25%
Market Saturation • 25%
Strategic Pivot by Nike • 25%
Other • 25%
Industry analysis reports or articles from reputable tech and business publications
Story
RTFKT, Nike-Acquired NFT Pioneer, Shuts Down Amid Market Resurgence
Dec 2, 2024, 05:32 PM
RTFKT, the digital fashion and collectible company known for its pioneering work in the NFT space, has announced that it is shutting down operations after one final drop. The company, which merged with Nike and had raised $9 million and sold $45 million in NFTs, was instrumental in shaping the early NFT landscape with projects like Clone X and collaborations with artist Takashi Murakami. Despite having a nine-figure treasury, RTFKT is closing its doors just as the NFT market is experiencing a resurgence, leaving many holders feeling left hanging. The shutdown, which some community members had predicted months ago, marks the end of an era in the digital collectibles space. RTFKT had been a significant player at the intersection of culture, gaming, and technology, and its departure is seen as both a surprise and a significant moment within the industry.
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Market conditions • 25%
Strategic realignment • 25%
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Independent entity • 25%
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Dissolved completely • 25%
Rebranded under Nike • 25%
Dissolved • 25%
Transferred to a new entity • 25%
Sold to a new owner • 25%
Retained by Nike • 25%
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Leadership Issues • 25%
Financial Mismanagement • 25%
Other • 25%
Data security issues • 25%
Financial mismanagement • 25%
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Other • 25%
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Other • 25%
Market competition • 25%
Financial mismanagement • 25%
Individual offering $10 million • 25%
No acquisition • 25%
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Individual offering $200,000 • 25%
Security breach • 25%
Other • 25%
Regulatory issues • 25%
Financial insolvency • 25%
Lack of player retention • 25%
Other • 25%
Competition from other games • 25%
Technical issues • 25%
Other reasons • 25%
Technical issues • 25%
Policy changes • 25%
Security concerns • 25%