Nike has officially pulled the plug on RTFKT, its brand behind NFT sneakers and digital avatars - basically virtual flexes for the online world. It started as the metaverse's hottest trend, but now it feels more like Crocs with heels, or clear plastic jeans - bold in theory, but questionable in practice. It was a fashion statement, alright... just not one anyone actually wants to wear. So, is the dream over?
While RTFKT's foray into digital fashion may have faltered, let's not forget they were pioneers in the space, pushing the boundaries of virtual style. Despite the failure of their virtual sneakers, the investments made in the brand and its trade mark will endure. This foundation will serve them well as the company pivots in whatever direction they choose next.
The RTFKT brand (and its trade mark) will forever be associated with innovation, forward-thinking, and breaking barriers, even though it hasn't yet reached the desired level of success.
This serves as a reminder: trends may fade, but a trade mark lasts - unless you forget to file it.
It'll be interesting to see if Nike capitalises on the reputation RTFKT built, and redirects that momentum into something new.
I'll be watching.
"Today we're announcing the plan to wind down RTFKT operations," the company said in a statement on X, formerly known as Twitter. "Looking back we're incredibly proud of everything we've achieved together."
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