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CloneX has tripled in value over the past two days, but few people have noticed. It’s a bit of a sigh.
The story behind it is quite interesting—Nike quietly sold the RTFKT studio to a mysterious buyer in December, and the news only broke the day before yesterday, which is when CloneX’s price started to surge. The market reaction was slow, but once the news was out, it took off.
Regarding this buyer, community guesses vary widely. The most popular speculation points to LVMH. If a luxury giant really took over, it could mean something for the NFT ecosystem. The brand’s attitude is quietly changing, but most people haven’t realized it yet.