Part 4/7:
By late 2023, Nike lowered its future sales forecasts and announced a plan to save $2 billion over three years. This shift was evident when the company's shares plummeted by 11% following these announcements. Most telling, however, was the complete lack of mention of NFTs, metaverse initiatives, or crypto in their 2024 financial reports. Instead, Donoho emphasized returning to the company’s roots, asserting that Nike was "putting sports back at the center of everything we do, serving the athlete."