RTFKT to Discontinue Operations in January 2025, Releasing One Final NFT Collection

Nike-owned non-fungible token studio RTFKT has announced its plans to wind down operations in January 2025, marking the end of an era in the web3 and NFT spaces. The studio will release one final collection, titled “BLADE DROP,” as a tribute to its innovative legacy and a testament to its role in merging technology with culture.

A Final Tribute to RTFKT’s Legacy

The “BLADE DROP” collection will be the last to come from RTFKT, a studio that has been at the forefront of NFT innovation since its launch in 2020. Founded by Benoit Pagotto, Chris Le, and Steven Vasilev, RTFKT has amassed $49.82 million in earnings, including over $45 million in royalties from its popular Ethereum-based collections, such as CloneX and MNLTH.

A Shift Toward Becoming an Artifact of Cultural Revolution

According to RTFKT, this transition marks a shift toward becoming “an artifact of cultural revolution” rather than an end to its journey. The studio plans to launch an updated website to showcase its groundbreaking work and preserve its legacy. However, details on how the website will function and what features it will include remain unclear.

Uncertainty Surrounds Nike’s Metaverse Strategy and RTFKT’s Future

The announcement has left many wondering how this move aligns with Nike’s broader metaverse strategy and the future utility of RTFKT’s popular NFT collections. With no mention of how existing RTFKT NFT holders will be supported, collectors are left with uncertainty about the future of their digital assets.

RTFKT’s decision to discontinue operations comes at a time when the NFT market is showing signs of recovery, with November sales hitting a six-month high of $561.9 million.

Tips for RTFKT Collectors and NFT Enthusiasts

  • Stay informed about the latest developments in the NFT market and RTFKT’s plans for its updated website.
  • Consider diversifying your NFT portfolio to minimize risk and maximize potential returns.
  • Keep an eye on Nike’s metaverse strategy and how it may impact the future of RTFKT’s NFT collections.

For more news on the web3 and NFT spaces, visit Global Crypto News for the latest updates and insights.

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