🚨NFT Holders' Harsh Lesson丨Big Players Retreat, Beliefs Shattered！

RTFKT —— The Web3 star project that Nike proudly acquired back in the day, has now, in less than three years, been shut down with all NFT assets reduced to electronic waste.

NFT holders have collectively filed a lawsuit, seeking over $5 million in damages. The core accusation of the lawsuit is:

Had they known Nike would withdraw, they would never have purchased these NFTs at the high prices back then, or even would not have made a move at all.

I can only say that the NFT market after the "value return" is truly heartbreaking!

In a market environment lacking growth and losing existing value, all previous factors for price increases will be weakened. We may need to consider three questions —

Has the fundamental logic of NFT projects changed?

Is the narrative of brand NFTs being debunked?

What should we learn and realize at this stage?

1⃣ NFTs are not on-chain amulets; they are extensions of brand credibility.

所谓链上确权, which is on-chain rights confirmation, is merely proof of asset ownership, not a promise of eternal value.

Many people buy RTFKT not for the NFTs themselves but for their confidence in Nike's future investments in Web3. Once Nike, the "parent company," withdraws, NFTs are like balloons that have lost air, poof — gone.

This is not an isolated case. Many Web2 giants have boldly entered Web3, mostly as a side business, wanting to share a piece of the pie. When the wind changes, they flee faster than anyone else, like Meta and Reddit.

When investing in brand NFTs/tokens, the future should have one ironclad rule: first assess whether the "parent company" is genuinely committed to Web3.

Of course, this is hard to discern, as those who initially wanted to make money in Web3 must have been sincere. Perhaps in the future, I can only trust companies like MicroStrategy that buy regardless of bull or bear markets.

2⃣ In the future, "self-inflicted amputations for survival" will become the norm, not an exception.

In the eyes of traditional giants, Web3 projects are often just brand laboratories, a marketing option, not a vital mainstay. Like Nike, the money made from selling shoes and clothes is definitely much more than from selling NFTs.

As the macro environment tightens, big players will increasingly "optimize assets" and reduce "exposure to non-core businesses."

NFT projects, metaverse projects, blockchain gaming projects — any that cannot quickly generate profits may become the next sacrifices, the first to be ruthlessly cut.

As for this lawsuit?

It will likely be protracted with no outcome. Even if successful, for a giant like Nike, $5 million is just a drop in the bucket, like losing a shoelace, insignificant compared to the torment endured by retail investors.

3⃣ What can we learn? What should we do?

I think at this stage, when we invest, we can no longer be satisfied with DYOR (Do Your Own Research), but may need to DYOE (Do Your Own Expectations).

Expectations should be underestimated, and risks overestimated;

Traditional companies, market makers, project parties, exchanges, and pump forces cannot be relied upon to backstop your assets.

In the world of Web3, the only enduring value has never been the brand halo or the white paper narrative, but rather the depth of your understanding of risks and opportunities.

From specific cases to broader trends, NFTs are just a microcosm of the market, and we may all need to learn and implement the following points:

1. Any asset that heavily relies on a single enterprise or individual's halo should be approached with caution. Recognize the inherent risks associated with "brand linkage" before taking action according to your risk margins.

2. Focus on truly on-chain, decentralized projects. Whether it's blue-chip NFTs, DeFi tokens, or on-chain native assets, build a strong anti-risk investment portfolio.

3. Do not easily "tie yourself down" to any single project; cultivate a flexible and calm exit strategy. Web3 is a dynamic world, and positions and expectations must also be adjusted dynamically. When encountering signals of abnormal changes (team changes, strategic shifts, weakening ecological flow), be decisive in reducing your position.

4. Everyone can tell a good story, but what the market pays for is the ability to deliver. Maintain skepticism, independent thinking, and avoid being swayed by emotions and short-term hype; this is key to going far. Keep learning, and do not become a hostage to narratives!