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The Rise and Fall of Nike's NFT Venture: A Case Study on Artifact
In 2021, Nike stunned the world by acquiring the NFT company Artifact for a staggering $1 billion, marking a bold entry into the burgeoning digital asset space. This acquisition was initially seen as a pivotal move not only for Nike but also for the entire NFT ecosystem. However, just three years later, Nike decided to shut down its high-profile NFT venture, leaving many to wonder: what went wrong?