Nike Shuts Down RTFKT, Takashi Murakami-Backed NFT Project, Amid $10 Million Offer

Dec 2, 2024, 04:57 PM

RTFKT, an NFT project known for merging culture, gaming, and technology and collaborating with Takashi Murakami, has announced plans to wind down operations following its Final Quest. The move, which has elicited reactions from across the NFT community, marks the end of a brand that was once considered revolutionary in the digital culture space. Nike, which had acquired RTFKT, is reportedly shutting down the project, prompting offers from individuals to acquire its assets or even to shut it down sooner. One individual publicly offered $200,000 to purchase RTFKT, including its collections such as CloneX and MNLTH, while another offered $10 million to acquire the entire brand and restore its intellectual property. The shutdown comes as some in the NFT community believe the market is poised for a significant upswing, making the decision particularly surprising.