RTFKT

RTFKT, a digital fashion and NFT brand acquired by Nike in 2021, promised to pioneer Web3 culture through innovative virtual sneakers and collectibles like CloneX but consistently overpromised and underdelivered. Holders report abandoned roadmaps, overpriced products rebranded as coupons, poor communication, and significant financial losses as the project faded and Nike officially shut down operations in January 2025. The project is widely characterized as a cautionary tale of corporate extraction and wasted potential despite early hype, Nike backing, and collaborations with figures like Takashi Murakami.