Nike’s innovative digital fashion and Web3 studio RTFKT announced Dec. 2 that it will shutdown operations by Jan. 2025. Renowned for its leading projects merging the worlds of digital fashion, gaming and blockchain technology, the company disclosed the decision through its social media channels.
The announcement said RTFKT will end its Web3 services and become a legacy preserver through a refreshed website featuring its landmark works. Conceptually, this platform celebrates the studio’s vision which includes collaborations with legendary artist Takashi Murakami on the world’s first iconic sneaker pair as well as digital-to-physical sneaker collections, and more.
RTFKT Reassures Community with Updates on Collections and Services
This won’t be the end of RTFKT’s operational activities, however: the company promised its community further details about its collections, services, and other existing platforms via official channels, including its Discord server. It was a strategic pivot about ensuring contributions will still remain seen and celebrated when the studio is closed.
Months of speculation on what the studio’s future would be has led to the news. In March 2024, crypto influencer Nick O’Neill predicted on X that Nike is set to close down RTFKT by 2024. In response, a pseudonymous Zaptio, who also serves as co founder of RTFKT, seemingly brushed the rumor off saying, “Looks like we didn’t get the memo over shutdown.” But this latest announcement is the end of an era for the pioneer of the Web3 brand.
RTFKT plans to piece out one final project by December 2024 before operations are officially shut down. The release titled MNLTH X featuring the BLADE DROP is described as a ‘first’ from the studio of bridging the digital and physical worlds. The project is set to close out RTFKT’s legacy of pushing the boundaries of the Web3 space.
Meanwhile Adidas continues to grow its presence in the Web3 space and has just launched its Genesis Sneakers NFT collection on the Solana blockchain. It’s the latest partnership between the brand and StepN Go this year, after they worked together previously back in April. Digital fashion blended together with fitness that venture was a success that demonstrated the potential of blockchain technology being applied to lifestyle scenarios.
RTFKT’s Legacy and Adidas’s Ambitions Highlight Web3’s Transformative Impact
FLS, the developer studio behind the StepN Go, announced the Genesis Sneakers collection based on a raffle mint on the MOOAR NFT marketplace. The amount needed to participate in each raffle was 10,000 GMT, the native token of the platform, and unsuccessful participants were refunded. The collection was limited to 1,000 pairs and aimed to stress exclusivity, appealing to fitness afficionados as much as the digital fashion collectors.
This is part of bigger trend on which established brands are using blockchain innovation to interact with their communities in new and innovative ways. Adidas was still looking to enter new space in this Web3 and NFT due to which it was heavily focused on fusion of fashion, fitness, and digital innovation and was trying to be a step ahead in this line which shows its attempt towards exploring the new course in Web3 and NFT.
Digital fashion and blockchain, reflect on shifts in digital fashion as well as Web3 expansion from Adidas. In addition, RTFKT’s legacy serves as an inspiration to future creators, and Adidas also demonstrates how traditional brands reinvent themselves in the Web3 space, redefining technology, fashion and community engagement.
Conclusion
RTFKT’s closure closes a trailblazing period for digital fashion and Web3 inventions. As the studio makes a transition from seeing a version of their vision manifest physically, the final project “MNLTH X featuring the BLADE DROP” guarantees to cement their mission to expand the physical world and the digital world together.
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