What a difference a year can make. After amassing $185.3 million in NFT sales revenue in 2023, within three years of operation, Nike is rolling up its virtual sneaker label, RTFKT (pronounced “artifact”). What was once seen as a step into the future for the sneaker giant will soon be a chapter from its past and a cautionary tale for brands that aspire to innovate. For some, the decision to sunset the venture is a no-brainer. Web 3 has slowed and Nike’s acquisition of the digital fashion...
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