Ain’t Nobody Got Time For RTFKT

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Less than three years after the Nike acquisition, the "Supreme of digital fashion" is set to close.

The digital streetwear brand RTFKT (pronounced artifact) announced on X—formally Twitter—that it was shutting down. This didn’t surprise observers from the sneaker and crypto communities, particularly Nick O’Neill, who speculated on the outcome on the same platform in March. “Two years ago, Nike acquired RTFKT for a reported one billion dollar sum. Choosing to make RTFKT founders [Benoit Pagotto, Steven ‘Zaptio’ Vasilev, and Chris Le] incredibly rich,” said O’Neill. “Now, according to our sources, Nike’s shutting down RTFKT this year. Will that be a poor choice? I’ll leave you to decide.” Zaptio's weak attempt to refute closure rumours while ignoring the supposed "undisclosed sum" is interesting. Strangely, O'Neill's tweet remained largely unnoticed until it was too late (this is kinda odd; the American University alum isn't some rando on the ‘net). With the sportswear brand’s dip in revenue, we’d imagine Nike’s board chatted it up with its former CEO, John Donahoe, well before his departure, which he announced mid-September.

In theory, RTFKT is doable. The founders aimed to establish RTFKT as the "Supreme of digital fashion.” (Eyeroll.) Sure, Supreme pioneered the concept of streetwear coolness that many emerging brands sought to emulate. But clearly, these puppies were so caught up in their own hype that they forgot the assignment.

RTFKT’s MO was providing sneakerheads with digital assets known as non-fungible tokens (NFTs). For instance, a digital cloud known as blockchain houses ultra-exclusive Nike Dunks. The buyer who owns the Dunks gets a unique code stored on a ledger. Only certain blockchains, primarily Ethereum, can trade these NFTs at outrageous prices, hence the ephemeral hype. Fashion NFTs aim to encourage an innovative approach to self-expression in the digital realm. The thing is, if you can’t get a physical drop, or if you have to go through all these hoops to nab a pair, especially if you’re paying beyond top dollar, does anybody got time for that? 


It’s difficult to know whether RTFKT—founded in 2020 and acquired by Nike shortly afterwards—was a ‘real’ streetwear brand or simply a cash grab. According to Vogue Business, it raked in $185.3 million in NFT revenue in less than three years. Contributing to the bag were collabs, first with then-teen digital artist FEWOCiOUS, followed by bigger names like Takashi Murakami, beauty brand Shu Uemura, luggage brand Rimowa, and crypto hardware wallet maker Ledger. Inevitably, as with most fads, the NFT hype went into overkill until the novelty wore off. Early on, The Information reported that sneakerheads weren’t that hyped on the streetwear/sneaker NFT trend, and even Nike decided to cool off on its .SWOOSH virtual platform.

Had RTFKT kept things underground, which is the point of streetwear, it probably would’ve survived. However, after securing their initial $8 million investment, they probably felt the pressure to scale up. By the looks of things, though, it appears RTFKT and Nike were out to make it rain… right into the gutter.

No Bad Promo: Drake Masters the Power of Beef While Announcing Tour and Secretly Launching NOCTA in Italy

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Drake took to a live streamer's platform to shade fellow musicians. However, closer inspection reveals a brilliant marketing savant.

On Friday, Kendrick Lamar, a former Drake collaborator turned foe, launched his sixth studio album, GNX. The surprise 12-track drop, released on his label, PGLang, features a stellar cast, including Roddy Ricch and labelmate SZA. Except for SZA, who grew up in New Jersey, GNX is an ode to the West. However, based on the sea of positive reviews pouring in, it's clear that K. Dot’s popularity spans the globe. His gritty storytelling, hard beats, and theme-bending cultural references are bound to make the LP a staple in everyone’s playlist except Drake’s.

Following GNX hitting the airwaves, YouTube, the Internet, and everything else, Drake hopped on a livestream with fellow Canadian Félix Lengyel. For those who don't know, Lengyel goes by xQc. He's a popular Twitch streamer with over 12 million followers (it's important to mention Lengyel took to Kick for the stream with Drake. After signing a $100 million deal with the Twitch rival, he should). This was a brilliant move; aside from the world's most annoying third wheel, Kevin Hamdan, who we've learned is a magician, talking about nothing specific, the rapper kept it calm. He lauded the streamer while smoking shisha. Drake was so relaxed that he pulled some wisdom from his wellness bag. "I'm here, as you can see, fully intact. Mind, body and soul, in case you were wondering," Drake said during the live. "You need facts to take me out. Fairytales won't do it."

Unbothered is the approach; as you can imagine, the rapper's nonchalance has set the internet on fire. Drake is an entertainer, playing the game by throwing shots at K. Dot, former friend The Weeknd, and Steve Lacy! “This guy’s like a fragile opp,” Drake said as Lengyel lip-synched Lacy's Bad Habit. “But this is a good song, though.” When Lengyel asked for clarity, Drake responded, "Chat knows what I'm talking about. Fragility" Sure, Lacy fired back, and Kendrick has not responded since this post. But we did find it fascinating that while all the shenanigans were going on, Drake's line with Nike, NOCTA, previewed the latest Cardinal Stock capsule on IG.

The capsule isn't new—Cardinal Stock originally came out in 2021. Based on the campaign, which was shot in Naples, Italy, the latest drop includes pink tees, hoodies, and sweat sets; black tracksuits; speckled grey sweatsuits; and silver puffers. The capsule will be available on NOCTA's website at midnight on November 26th.

Then we get another shocker: Drake announced on Lengyel's livestream that his Anita Max Wynn tour kicks off exclusively in Australia on February 9, the exact day Super Bowl 2025 kicks off (excuse the pun). However, this revelation won’t affect K. Dot’s half-time performance. Sources say Anita Max Wynn is the alter ego he uses while gambling, though, quite frankly, Anita Max Wynn Tour sounds like he's positioning himself to become the Anna Wintour of music.

Just sayin'.

Shout out to Il Mattino for the lead.

Ciao Edie!