Chiliz CEO Considers Acquiring Nike’s RTFKT NFT Platform as CHZ Rises 9%
Alexandre Dreyfus, CEO of Chiliz (#CHZ), has shown interest in acquiring Nike's non-fungible token (NFT) platform RTFKT, which plans to wind down operations by January 2025. In a post on social media platform X, he hinted at the possibility of integrating RTFKT's assets into the CHZ blockchain. Following this announcement, CHZ's price surged 9.95% to $0.1125, with trading volume increasing by 85% to $485.40 million.
RTFKT was acquired by Nike during the 2021 crypto bull market and has released various products, including the first-ever digital sneakers that became physical items. RTFKT announced plans for an updated website to showcase its legacy and will introduce a final drop as a commitment to innovation.
According to data from DefiLlama, RTFKT ranks ninth among NFT projects for earnings, having generated $45.67 million in royalties, with its most notable offering being CloneX, created in collaboration with artist Takashi Murakami. RTFKT stated it is transitioning to become "an Artifact of cultural revolution" rather than ending its journey.
CHZ Token About to Enter Top 100
The recent price increase has resulted in a weekly gain of 26.56% and a remarkable 104.31% rise over the past 30 days, bringing CHZ's market cap to $1.02 billion and nearing entry into the top 100 digital assets by valuation on CoinMarketCap.
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Source: TradingView
The Relative Strength Index (RSI) for CHZ is currently at 71.47, indicating high buying pressure. However, the gradient suggests a potential cooldown period may follow due to prolonged overbought conditions. Given the recent trend, CHZ may aim for its all-time high of $0.8915 in this cycle.