Nike-owned NFT wearable company RTFKT to shut down in January

Artifact (RTFKT), the NFT virtual sneaker production company that Nike acquired in 2021, will cease operations in January 2025.
On the 2nd (local time), RTFKT announced their plans to shut down RTFKT through X (formerly Twitter), stating, "Since its establishment, RTFKT has been a
"We have been at the forefront of digital culture, fusing gaming, digital fashion and Web 3 technologies. I am proud of all that we have accomplished together."
To honour this pioneering legacy, RTFKT has launched an updated website showcasing the groundbreaking work that has defined RTFKT’s journey and will hold a final “BLADE” event before closing down.
The project team said, "RTFKT is not ending, but rather continuing what was always intended: the 'art' of the Cultural Revolution."
"Our goal is to become an 'artifact'," he added. RTFKT was founded in 2020 and is managed by Andreessen Horowitz.
It has raised at least $8 million from investors including Nike, Inc., Horowitz, Inc. Nike acquired the company in December 2021 at the height of the NFT boom.