2026-01-08 05:24:56

In early 2026, Nike dropped a heavy bomb—announcing the sale of its Web3 subsidiary RTFKT, officially declaring the four-year metaverse dream bankrupt. The first major move by new CEO Elliott Hill was to cut the money-burning non-core businesses harshly.

It's quite realistic to say. Nike is having a tough time, with stagnant revenue growth and a sharp decline in profitability, especially with problems in the Greater China market, which investors have long grown tired of. When the financial report was released in December last year, the stock price plummeted over 10%, marking the worst decline in recent years. This was the real reason forcing management to make decisions. Instead of continuing to burn money on virtual sneakers, it’s more pragmatic to focus on physical product innovation and channel restoration.

Interestingly, the market reaction has somewhat reversed. Nike’s stock price is now hovering around $63, but the NFT blue-chip project CloneX, once considered abandoned by big corporations, has become popular—breaking free from corporate constraints and attracting speculative buying, with floor prices nearly tripling. Could this be considered a form of liberation? The biggest fear for large companies doing Web3 is a sudden reversal under financial pressure, but CloneX has ended up picking up some bargains this time.

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DegenTherapist

· 01-11 04:58

Haha, Nike still chickened out, can't afford the money-burning game CloneX has turned around this time, breaking free from big corporations is indeed refreshing Big companies doing Web3 is just a joke, they run away as soon as capital tightens --- Another story of the metaverse dream shattering... about time --- Honestly, virtual sneakers can't withstand the pressure of real money after all --- Wait, CloneX floor price has tripled? Now that's a real plot twist --- Once a big company's financial report looks bad, its Web3 department instantly becomes cannon fodder, I've seen this routine many times --- Nike's decision is helpless but rational, at least better than continuing to burn money --- It's a bit ironic, breaking free from big corporations actually makes life better... a paradise for speculators --- That's why I say big companies can't play in crypto; their vision is too narrow --- The turnaround of CloneX is the real buying signal, those who missed out should regret it --- Nike's move is just shedding baggage, as for the future of Web3... who cares?

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TokenVelocityTrauma

· 01-09 08:36

Haha, Nike's move was really forced; the stock price plummeted 10%, and investors have been complaining about it. On the other hand, CloneX taking off is quite ironic—breaking away from big corporations actually brought more freedom? It's another story of a big company's Web3 dream crashing; I'm getting tired of it. Virtual sneakers burning money is pointless; it's more practical to focus on fixing the supply chain. Wait... CloneX's floor price has tripled? Now that's the real winner. Nike's move was indeed bold, but the problem is it came too late. Basically, it's just poor financial results forcing a stop-loss; nothing surprising about it. The reversal of the market is interesting—projects abandoned by big companies are now thriving. Web3 is just a burden for big corporations; the sooner they cut losses, the better.

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quiet_lurker

· 01-08 18:00

Big companies shedding their burdens, turning out to be a relief for NFT projects.

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DuskSurfer

· 01-08 05:52

This is the fate of big companies doing Web3: burning money until a certain point and then passing the buck. CloneX, on the other hand, has survived, which shows that breaking free from the constraints of the big sponsors isn't necessarily a bad thing. Nike is still stuck in a dilemma, and that's the most heartbreaking part.

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DAOdreamer

· 01-08 05:47

Haha, RTFKT finally got cut, it was about time. After burning money for so many years, still dreaming of the metaverse? CloneX, on the other hand, skyrocketed. This is true liberation—breaking free from big corporations and increasing threefold. Isn’t that ironic? Nike cut non-core businesses to improve financial report figures. Do they understand what it means to stop the bleeding? This time, Elliott really went all out. The shoe deal has finally landed, but the real gold rush in Web3 is still ahead. Big companies have been messing around for four years and this is the result. It’s better to be played by small circles and enjoy it more. It’s hilarious.

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token_therapist

· 01-08 05:47

The big company's dream shattered is an opportunity for retail investors. CloneX has indeed made a huge profit this time.

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AirdropCollector

· 01-08 05:46

Ha, this is what they call a desperate attempt to survive, Nike's move is actually quite clear-headed. CloneX's reversal is pretty good, taking off after breaking away from big corporations shows that the power of the community still exists. But with the stock price only at 63 and still stagnant, that's the real problem, isn't it?

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DaisyUnicorn

· 01-08 05:43

CloneX, this little flower suppressed by big corporations, finally has the chance to bloom in the wild... Breaking free from Nike, this big sponsor, has actually become an advantage. The 3x increase in value shows that the market is indeed hungry.

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OnChainDetective

· 01-08 05:35

Wait, the Nike stock price of $63 needs to be verified again. It feels a bit off. A drop of over 10% in December doesn't add up to this price level. We need to check on-chain records for large holders' reduction transactions.

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StablecoinGuardian