Nike is still in the middle of a $5 million class action lawsuit. This comes on the heels of their decision to close the NFT subsidiary, RTFKT, at the end of December 2024. Australian Jagdeep Cheema is at the head of the class action. He alleges that the shutdown caused...
I did an NFT workshop with Anya, one of the most advanced young digital artists I’ve met, originally from Phnom Penh. This meeting happened in early 2022. Her eyes shone with excitement. For her, NFTs were about so much more than jpegs. They were a passport to a global stage,...
Nike’s hit with a $5 million class action lawsuit over its RTFKT NFT platform shutdown. With investors justifiably furious, watching their hard-won digital assets go up in smoke. Is this simply buyer’s remorse in a rocky economy? Or does it only signal to us a far deeper truth about the...
Wall Street has been ecstatic over Web3, luring investors with the allure of disruptive innovation and sky-high profits. Are they actually equipped to handle the Wild West of digital assets? Nike’s newly settled NFT lawsuit may be what’s needed to bring the NFT industry back down to earth.Regulation's Shadow Looms...
The community-driven Pudgy Penguins non-fungible token (NFT) collection is on a big upswing, recently hitting a three-month 300% blast in sales volume. This rally has been picking up steam as we zoom toward World Penguin Day on April 25! In tandem, the associated PENGU token has seen a stellar surge...
From the fallout of Nike’s NFT debacle, ending up in lawsuit and RTFKT set to shut down soon, it’s a kick to the stomach. A $5 million gut punch, to be precise. While the legal wrangling focuses on consumer protection laws and "unregistered securities," the real casualty here might be...
Crypto revolution isn’t just a Wall Street and Silicon Valley thing. It’s the story of all the real people, communities, and opportunities that are flowering in the underappreciated corners of our globe. I’m sure that Southeast Asia is going to be among the biggest beneficiaries, particularly for its dynamic creative...
The promise of Web3 was simple: democratize creation, empower artists, and cut out the middleman. With its acquisition of RTFKT back in 2021, Nike certainly appeared to be purchasing that vision. Now, with RTFKT's closure and the subsequent lawsuit alleging a "rug pull," the question isn't just about money –...
Nike’s being sued for suddenly shutting down RTFKT? Alright, on the surface, this is nothing new—another company trying to navigate the often-volatile space of NFTs. Dig a little deeper, and you’ll find an invitation revealed under a flashing neon sign. This signal underscores the real Wild West nature of Web3...
The NFT space can be a bit of a wild west, a place where speculation meets innovation. Sometimes, that collision leads to legal battles. A trademark battle is quickly shaping up between Nike and StockX. Nike claims trademark infringement and unfair competition because StockX sells Nike-branded Vault NFTs, an NFT...
