Coinspeaker Chiliz CEO Expresses Possibility of Acquiring Nike NFT RTFKT, CHZ Surges 9%
Alexandre Dreyfus, the chief executive of Chiliz CHZ $0.11 24h volatility: 7.0% Market cap: $1.02 B Vol. 24h: $608.33 M , the digital currency operating the sports entertainment platform Socios, has expressed interest in acquiring Nike’s non-fungible token (NFT) platform RTFKT after the NFT project announced that it is winding down operations in January 2025.
In a post on social media platform X (formerly Twitter), Dreyfus hinted at the possibility of the Chiliz ecosystem bidding on the assets of RTFKT and making them live on the CHZ blockchain. Meanwhile, the price of the digital asset skyrocketed a massive 9.95% in the past 24 hours and trades at $0.1125 after Dreyfus made his intentions clear. The trading volume of the altcoin also jumped 85% to $485.40 million, suggesting an increase in investors’ interest.
It is important to note that RTFKT was acquired by Nike during the 2021 crypto bull market for an undisclosed sum, and the platform went on to release numerous products, including the debut of the first-ever digital sneakers that turned into physical products.
As per an announcement, RTFKT is set to debut “an updated website that showcases the groundbreaking work that defined the RTFKT journey” in order to “honor and preserve this pioneering legacy.” The NFT firm further added that it will be introducing a last drop as a “testament to our commitment to pushing boundaries and merging worlds.”
According to the data from DefiLlama, RTFKT ranks ninth in terms of NFT projects with the highest earnings and has earned a massive $45.67 million in lifetime royalties. Further, the project’s most successful offering was CloneX, a collection RTFKT debuted in partnership with legendary Japanese artist Takashi Murakami.
RTFKT also noted in the announcement that the NFT project isn’t ending but is “becoming what it was always meant to be — an Artifact of cultural revolution.”
CHZ Token About to Enter Top 100
The 9% price surge in the past day brings CHZ’s total gains for the week to 26.56%, while the digital asset is up a monumental 104.31% in the past 30 days, wiping off years of sluggish movement in just a few weeks. With a market cap of $1.02 billion, CHZ is about to enter the top 100 digital assets by valuation on CoinMarketCap.
Source: TradingView
The Relative Strength Index (RSI) for CHZ reads a value of 71.47, which means that the buying pressure for the digital asset is quite high. However, the line’s gradient suggests that a cool-off period might follow since the coin has been in the overbought region for quite a while. However, considering the fact that altcoins have been printing significant gains since November, CHZ can make a move toward its all-time high of $0.8915 this cycle.
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Chiliz CEO Expresses Possibility of Acquiring Nike NFT RTFKT, CHZ Surges 9%
