Nike's decision to divest RTFKT on January 8 triggered an explosive rally in its NFT project Clone X. The floor price surged 340% in one week, from below 0.1 ETH to 0.44 ETH — a level not seen since April 2024. It currently sits at 0.377 ETH, but trading volume remains elevated.
On-chain data: Smart money rotates in
On-chain data reveals daily trading volume for Clone X multiplied several times during the first week of January, with large-scale turnover between holders and new buyers. Smart money addresses accumulated steadily, keeping the floor above 0.4 ETH for days — a clear bet on a takeout premium. At press time, the floor is 0.377 ETH with 24-hour volume around 1,200 ETH.
Background and buyer speculation
RTFKT launched in 2021 with digital sneakers and scored a hit with Clone X, co-created with artist Takashi Murakami. After Nike acquired it in 2022, development slowed and community attention shifted to physical shoe sales. Now Nike is divesting, leaving the buyer as the biggest unknown.
Market rumors center on two camps: LVMH, given Murakami’s long ties with Louis Vuitton, which could reposition Clone X from a faded collectible to high-end digital luxury. The other is Pudgy Penguins; CEO Luca Netz has recently interacted frequently with RTFKT founders, and his community-driven playbook revived Pudgy Penguins. Yuga Labs and Improbable CEO Herman Narula have both denied involvement. No official confirmation has surfaced from either party.