MAROKO133 Update crypto: Nike Quietly Dumps NFT Unit RTFKT as Converse Revenue Drops 30% T

📌 MAROKO133 Breaking crypto: Nike Quietly Dumps NFT Unit RTFKT as Converse Revenue

Nike has quietly sold its digital products subsidiary RTFKT, the NFT unit it acquired during the 2021 crypto boom, as the sportswear giant’s Converse brand reported a 30% drop in quarterly sales last December.

The sale, effective December 16, marks Nike’s definitive exit from blockchain-based collectibles and signals a strategic retreat to its core athletic performance business under the new leadership of CEO Elliott Hill.

The sportswear giant had previously announced plans last year to end its non-fungible token (NFT) operations and other blockchain-based initiatives.

Nike Dumps NFT and Metaverse Ambitions

RTFKT was acquired by Nike in 2021 under then-CEO John Donahoe, who prioritized direct and digital sales channels during his tenure, betting heavily on emerging technologies and virtual consumer experiences.

The acquisition was designed to expand Nike’s presence in collectibles and metaverse markets during the 2020-2021 NFT and digital worlds bubble, when virtual sneakers and avatars commanded premium prices from collectors and crypto enthusiasts.

In a brief statement, Nike said the RTFKT sale was “launching a new chapter for the company and its community,” adding that it “continues to invest in delivering innovative products and experiences across physical, digital and virtual environments.”

The carefully worded announcement left room for continued digital initiatives while distancing the company from its blockchain experiments.

Terms of the RTFKT sale, including the buyer’s identity and financial details, were not disclosed.

When asked who purchased the unit, Jarlan Perez, Yuga Labs Design Director and former Nike and Google executive, responded cryptically:

“That’s up to them to reveal themselves whenever they are ready,” suggesting the buyer may be a prominent player in the digital assets space.

Despite the uncertain future, RTFKT tokens surged by over 270% following reports of the sale, sparking speculation that new ownership could revive the “lost glory” of NFTs.

Legal Troubles Shadow NFT Exit

Nike faces mounting legal pressure over its abrupt departure from digital collectibles, complicating what was already a challenging strategic pivot.

Some purchasers of Nike-themed NFTs and other crypto assets filed a proposed class action lawsuit in Brooklyn federal court last April, seeking damages of at least $5 million for what they characterize as an abandonment of promised digital ecosystems.

Lead plaintiff Jagdeep Cheema, an Australian investor, claims that Nike’s abrupt decision to shut down RTFKT wiped out the NFTs’ value without adequate notice or compensation.

The lawsuit alleges violations of consumer protection laws in New York, California, Florida, and Oregon, with buyers complaining the company pulled the plug without warning or transition plans.

Some NFTs stopped displaying images correctly after the shutdown announcement, compounding concerns that the assets would no longer be supported or maintained.

The technical failures intensified backlash from collectors who had invested substantial sums based on Nike’s reputation and implied commitment to the digital space.

The broader NFT market has collapsed since its April 2022 peak, with over $12 billion wiped from its market cap according to Coingecko data.

The market now struggles to generate $4 million in daily sales volume, a dramatic fall from the substantial sums RTFKT sneakers, hoodies, and Clone X

avatars commanded during the last crypto summer when digital collectibles were seen as the future of brand engagement.

Nike Refocuses on Athletic Performance

Although the new Nike CEO, Elliott Hill, has not publicly detailed his 2026 strategic plans, the RTFKT sale comes as Nike navigates broader challenges, including Converse’s significant revenue decline and increased competition from emerging athletic footwear brands capturing market share.

While Nike maintains it will continue selective virtual partnerships with gaming companies, the sale of RTFKT is a clear pivot away from blockchain-based consumer products toward its core competencies in physical, performance-driven athletic wear, which built the brand’s global dominance.

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🔗 Sumber: cryptonews.com

📌 MAROKO133 Update crypto: CZ-Backed YZi Labs Slams CEA’s “Poison Pill” As Boardro

Changpeng Zhao–backed YZi Labs has sharply criticized CEA Industries Inc. after the Nasdaq-listed company adopted a poison pill and amended its bylaws.

This escalated a fast-moving governance battle that now threatens to reshape control of one of the largest publicly disclosed BNB treasury vehicles in the United States.

YZi Labs Calls Out CEA Over “Stockholder-Unfriendly” Moves

In a statement posted on X, YZi Labs said it was “disappointed” by what it described as stockholder-unfriendly actions designed to entrench CEA’s current board rather than protect investor interests.

The investment firm, which holds roughly 5% of CEA’s outstanding shares, argued that the new measures restrict shareholders’ ability to act by written consent and add procedural hurdles that go beyond Nevada law.

The conflict marks a dramatic reversal from the optimism that surrounded CEA just months ago.

In mid-2025, the company completed a $500 million private investment in public equity deal backed by YZi Labs and 10X Capital, pivoting away from vape manufacturing to become a BNB-focused digital asset treasury.

Shares surged more than 600% in July as the strategy was unveiled, positioning CEA as the largest publicly traded BNB holder in the U.S.

That momentum has since faded.

CEA’s stock has fallen more than 90% from its peak, closing near $6.50 this week, even as BNB rose roughly 38% over the past six months.

Poison Pill Deepens Standoff Between YZi Labs and CEA Board

Tensions boiled over in early December when YZi Labs filed a preliminary Schedule 14A with the U.S. Securities and Exchange Commission, launching a consent solicitation aimed at overhauling CEA’s board.

The filing seeks to expand the board, unwind bylaw changes adopted after July, and install a new slate of directors nominated by YZi Labs through written shareholder consent, without waiting for a formal meeting.

CEA’s board responded by adopting a limited-duration stockholder rights plan, commonly known as a poison pill, and amending its bylaws.

Under the plan, if any person or group acquires 15% or more of the company’s shares without board approval, other shareholders would be allowed to purchase additional shares at a 50% discount.

This effectively dilutes the would-be acquirer and makes a takeover prohibitively expensive.

YZi Labs said these moves signal that the board lacks shareholder support and is prioritizing self-preservation.

The firm also raised concerns about the delay of CEA’s 2025 annual meeting beyond its December 17 anniversary date, warning against what it called further “manipulative behavior” around meeting scheduling or director nominations.

Beyond governance mechanics, YZi Labs directly challenged CEA’s public statements about its digital asset treasury strategy.

The firm rejected the company’s claim that it had never considered alternative tokens to BNB, pointing to comments made by CEO David Namdar at a November 2025 industry conference where he acknowledged discussions around other assets, including Solana.

YZi Labs also flagged potential conflicts of interest, citing the involvement of Namdar and board member Hans Thomas in promoting other crypto treasury ventures while serving in leadership roles at CEA.

In its filings, YZi Labs accused the board of operational failures, including delayed regulatory filings, limited investor communications, and a lack of regular reporting on net asset value and BNB accumulation.

The dispute is now set to hinge on the delayed 2025 annual meeting, which YZi Labs has described as a critical venue for shareholders to decide the company’s future leadership and strategic direction.

CEA has not yet issued a detailed public response to the consent solicitation.

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🔗 Sumber: cryptonews.com