Do you remember the acquisition in May 2021? At that time, NIKE took over the digital creative company RTFKT at an estimated value of about $33.3 million. Now, the awkward situation of this investment is in the spotlight—by December, NIKE decided to sell RTFKT, which reflects more than just a strategic adjustment.

The NFT market has cooled from its fever pitch to an ice-cold state, and the investment returns have fallen far short of expectations. The best example is the performance of the core asset Clone X: at the end of 2022, it could sell for $63,000, but now it has plummeted to less than $1,000. From six figures to three, this collapse is fast enough to leave any holder breathless.

The entry and exit of big brands is actually a true reflection of market cycles. When the hype fades and the bubble bursts, even once-star projects have to face reality. NIKE’s move is less about giving up and more about a calm understanding of the market—some trends are simply not worth continuing to bet on. For entrepreneurs still committed to the NFT space, this is both a warning and a reflection.