Alexandre Arnault, son of Bernard Arnault, has been appointed to Nike’s board of directors. The former CEO of RIMOWA and executive vice president at Tiffany is considered one of luxury’s earliest crypto adopters: in 2022, Tiffany turned his CryptoPunk into a diamond pendant before selling 250 NFTiff passes at 30 ETH each, worth roughly $12.7 million. Nike sold its NFT studio RTFKT in December 2025 to an undisclosed buyer, eight months after the studio’s closure and holders sued Nike in April 2025 for $5 million, calling the shutdown a rug pull. Nike shares closed at $35.78, down 1.21%, near a 12-year low, with the company’s market value roughly halved over the past year to about $53 billion.
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