Nike Shuts Down NFT Platform

Daniel Kuhn for The Block:

RTFKT, the NFT project most known for its attempt at making “digital shoes” a thing, is shutting down, according to a statement on Monday. The project, acquired by athletic wear juggernaut Nike in 2021 for an undisclosed sum, plans to fully unwind by the end of January, though its Ethereum-based tokens will remain accessible. 

And as Mike Isaac added on Threads:

buried lede: nike bought a company called “ratfucked” and didnt suspect they were getting scammed

How much longer will Outside.io: “the creator marketplace” by Outside stay up? Currently on offering over there is one animated gif, and you can “mint” last year’s Warren Miller tour poster for free.

Rat-fucked is about right.