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What will be Nike's digital fashion strategy by end of 2024?
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Resolution / Starting Odds
Focus on .SWOOSH • 25%
Expand NFT offerings • 25%
Exit digital fashion • 25%
Other • 25%
Nike's official strategy documents, press releases, or coverage in major business news outlets
Story
RTFKT to Wind Down Operations by January 2025 Amid CloneX NFT Value Plunge
Dec 2, 2024, 04:35 PM
RTFKT, a prominent digital fashion and NFT company, has announced it will wind down operations by January 2025. The company, acquired by Nike in 2021 for a rumored $100 million, had been a significant player in the NFT space, with an NFT collection on Ethereum, and was known for its innovative projects. The announcement has surprised its community, with the value of its CloneX NFT collection reportedly dropping by 70% following the news. While the company stated it is transitioning into what it was 'always meant to be—an artifact of cultural revolution,' questions remain about the future of Nike's involvement in digital fashion, including its .SWOOSH platform.
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Focus on operational efficiency • 25%
Focus on digital sales • 25%
Focus on product innovation • 25%
Focus on wholesale expansion • 25%
Increase over 5% • 25%
Decrease up to 5% • 25%
Decrease over 5% • 25%
Increase up to 5% • 25%
Diversification into new product categories • 25%
Increase in luxury offerings • 25%
Expansion of private label brands • 25%
Focus on sustainability initiatives • 25%
Increase by 0-5% • 25%
Increase by more than 5% • 25%
Decrease by more than 5% • 25%
Decrease by 0-5% • 25%
Diversification into new markets • 25%
Expansion of physical stores • 25%
Enhancement of online presence • 25%
Focus on luxury segment • 25%
Focus on e-commerce growth • 25%
Expansion in North America • 25%
Cost-cutting and restructuring • 25%
Expansion in Latin America • 25%