Web3 Pioneer Benoit Pagotto Passes Away Suddenly
Benoit Pagotto, co-founder of the Nike-acquired Web3 studio RTFKT, has died at age 41. The news was first shared by Philippe Rodriguez in a LinkedIn post on October 13, 2025. Rodriguez, a founding partner at Avolta Partners, described Pagotto's death as sudden. Avolta Partners advised RTFKT on its sale to Nike in December 2021.
According to The Block, fellow RTFKT co-founder Steven Vasilev confirmed the news on X. Vasilev wrote that the vision and inspiration Pagotto gave to the world will live on forever. Pagotto co-founded RTFKT in early 2020 alongside Vasilev and Chris Le. The firm released artistic NFT sneakers that gained rapid popularity. These led to brand collaborations with sneaker designer Jeff Staple and Japanese artist Takashi Murakami.
The Clone X collaboration with Murakami generated nearly $120 million in lifetime earnings. This made it the fourth-highest earning NFT project according to DefiLlama data. RTFKT itself ranks ninth with over $50 million in lifetime earnings. Pagotto stayed on with Nike as senior director of brand and partnerships after the acquisition. Former RTFKT CTO Samuel Cardillo paid tribute on X, calling Pagotto a unique human being.
Why This Loss Matters to the Community
Pagotto played a central role in bridging traditional fashion with blockchain technology. He started his career at the famed Parisian concept store Colette before moving into marketing and esports. His vision helped RTFKT become what industry observers called the Supreme of the metaverse. The company launched during the pandemic crypto boom and quickly became a leading voice in digital fashion.
Business of Fashion named Pagotto to its BoF 500 list in 2022. This list recognizes prominent people shaping the global fashion industry. His death comes less than a year after Nike announced it would wind down RTFKT operations. According to Hypebeast, Nike shut down the virtual sneaker brand in December 2024. The closure came under new CEO Elliott Hill as the company reassessed its digital priorities.
The timing adds another layer of complexity to an already difficult moment for the RTFKT community. Members had already been processing the loss of the brand itself. Now they face the loss of one of its founding visionaries. The Web3 community has responded with tributes across social media platforms. Many highlighted Pagotto's role in proving digital fashion could create real cultural impact.
How This Reflects Broader Industry Shifts
The RTFKT story represents both the promise and challenges facing NFT-based fashion brands. Nike acquired the startup during peak NFT market enthusiasm in 2021. At that time, virtual sneakers and digital collectibles seemed positioned to transform how people engage with fashion. Major brands rushed to enter the space with their own Web3 initiatives.
However, Business of Fashion reports that interest in NFTs declined through 2022 and beyond. RTFKT's NFT values fell alongside the broader market downturn. The brand struggled to maintain community engagement despite releasing new items. Complaints about slowing activity became more common by early 2024. Nike had already begun cutting technology jobs before announcing RTFKT's closure.
Traditional fashion houses continue exploring digital assets despite setbacks. Luxury brands including Louis Vuitton and Prada still maintain NFT initiatives. Yet the market has shifted from speculation to sustainable utility. Industry observers note that successful projects now focus on tangible benefits. These include event access, physical product authentication, and community membership. The fashion NFT market generated $1.39 billion in 2024 but faces questions about long-term viability.
Further Reading
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