In the whirlwind world of NFTs where pixel-related avatars and algorithmic art changed in dollars in a million dollar bodies, the explosive turnout and sobering decrease in industry as RTFKT (pronounced as “artifact”).
Born from the electric mix of sneaker culture, gaming-aesthetics and blockchain innovation, the trip of RTFKT from garage startup to nike-stunned digital fashion icon and ultimately to the silent shutdown paints a portrait of both the promise and the danger of the danger of the danger of Web3.
The turnout: Disruption in a box
RTFKT came forward in 2020, during the first real wave of NFT -Manie. Founded by Benoit Pagotto, Chris Le and Steven Vasilev, the company not only jumped on the NFT bandwagon – it has defined it again. RTFKT merges with luxury fashion sensitivities with gaming culture and digital ownership, RTFKT not only sold JPEGs; It selled identity, exclusivity and an interest in the future.
Their early drops were meteoric. In February 2021 they made the headlines by selling 600 digital sneakers in just seven minutes, with $ 3.2 million. This was not on a wall – it was fashion that you could bend in virtual worlds, wear in AR and possible physically. It felt like magic and the market reacted accordingly.
Collaborations with great artists such as a few and Takashi Murakami have further fueled the hype. The Kloon X project-A collection of 20,000 anime-inspired Avatars co-created with Murakami-Was a breakout hit, which was immediately sold out and confirmed the location of RTFKT as one of the crown jewels of the NFT culture.
The Nike Era: Peak Power, Operating Pressure
In December 2021, Nike RTFKT, a movement that felt like a turning point for digital fashion. For many this was the moment that NFTS “made it.” If the world’s largest sportswear brand jumped in, this was certainly just the beginning.
And in the first instance the partnership was bearing fruit. Nike Cryptokicks – NFT sneakers with variable digital skins – brought to 2.9 ETH, equivalent to About $ 8,500 at that time. There were collaborations by hardware wallet with ledger, NFT missions and teaser trailers for the coming universe “Animus”. For a while, RTFKT did not stop to stop.
But the friction began within the walls of business infrastructure. While NFT -markets cooled down, Nike turned to safer, scalable initiatives such as .woosh, the experimental spirit of RTFKT on the side. Mist steps such as only US all cryptokicks that send further tense community trust, which contributes to the final decline of RTFKT.
Nike’s general digital strategy also started to shift. Instead of continuing with risky, collectable NFT assets, the company focused its attention on more regular, Gamified digital experiences-such as in-game Wearables and branding items for virtual platforms. RTFKT’s avant-garde approach is no longer tailored to Nike’s broader priorities for the involvement of consumers in digital space.
The Fall: From Rocket Ship to Rough Landing
Cracks started to show in mid -2022. The wider NFT market cooled quickly and RTFKT struggled to keep its lead. Delays have plagued the long -awaited animus project, and Mnlth 2—Intended as a sequel to the original Mystery NFT box-under the Whelmed Fans.
Kloon X, once a selection framework digitally active, tumbled in value. At its peak in January 2022, the floor price rose to around 15.5 ETH, with some rare NFTs to 19.2 ETH. Clonex #4594 in particular was sold for 450 ETH and Clonex #13134 for 368 ETH in 2022. At the end of 2024, the floor price dropped to around 0.3 ETH ($ 320).
The missteps were not only technical – they were cultural. One controversy broke out when Cryptokicks IRL, RTFKT’s trip to physical sneakers, limited shipping to the US alone. For an international, web3-native community, the tone deaf and exclusively felt.
NFT Holders, who had paid a premium for global, decentralized benefits, were not satisfied. Despite public apologies and attempts for claims, the Trustosion was irreversible.
The end of the line
In December 2024, Nike announced that RTFKT would close the activities by January 2025. Reasons? A strategic hinge back to physical products and a recognition that the NFT ecosystem was no longer tailored to the company’s short-term vision.
Members of the community went to Discord and X to express frustration and sorrow about the abrupt end of the project.
Shortly before the announcement, RTFKT released one end product: MNLTH X with the knife. Marketed as the peak of his tech mode merger, it was not possible to restore interest or to catch the imagination of a now destroyed community.
Finally, in April 2025 the NFT collections of RTFKT became temporarily inaccessible due to technical problems with their hosting provider, Cloudflare. The company responded by announcing a migration of everyone NFT Metadata For Arweave, a decentralized, permanent storage protocol that is designed to ensure that NFTs remain accessible, even if a centralized host fails.
The Legacy: What RTFKT leaves behind
The story of RTFKT is more than a tree-and-bust story-it-story is a mirror for the entire NFT industry.
At its peak, RTFKT made digital property to the feeling. It showed how virtual fashion could seamlessly go into real-world luxury, how community-driven stories could be a worldwide brand in force and how NFTS could be more than speculative assets it could be cultural artifacts.
But it also revealed the dangers of rapid growth, the risks of overpromatization and subdivision, and the difficulty to stay agile in a business machine.
