Nike, a sportswear giant, faces a lawsuit over its handling of non-fungible tokens (NFTs) after the abrupt shutdown of its digital token project, RTFKT. The lawsuit raises critical questions about consumer protection in the digital asset space and whether NFTs could be classified as securities. As blockchain regulatory analyst Marcin...
So, Nike’s getting sued over the RTFKT NFT mess, right? One such investor is accusing them of fraud, securities law violations, and extreme virtual sneaker loss of value. Honestly, is anyone really surprised? This isn’t simply the story of one bad NFT project or one disgruntled investor. Corporate overreach in...
This Nike lawsuit… this one feels like a gut punch, huh? Not just to Nike, or even the NFT holders left with potentially worthless digital sneakers, but to the entire Web3 dream. We were sold on a new, democratized, decentralized future, a tech-driven new frontier of digital ownership. Rather, we’ll...
That’s the argument that Nike is currently facing in a lawsuit filed by scan & go startup Symbol New York. This follows the company’s closing of RTFKT, its subsidiary that peddled virtual sneakers as NFTs. The suit, brought by a single investor in the firm, seeks more than $5 million...
The NFT landscape is quickly changing, and some of those headlines aren’t written in jubilation. Once buzzing with hype and high valuations, the market has cooled, causing a number of the biggest brands to reconsider their approach. DeliciousNFT.com deep dives into the legal complexities of the case. We tell you...
Nike’s NFT adventure, previously praised as a daring step into the metaverse, is now stuck in a legal quagmire. And frankly, it's about damn time. The class-action lawsuit alleging unregistered securities offerings through RTFKT NFTs isn't just about those specific digital shoes; it's a glaring spotlight on the regulatory vacuum...
With the NFT market’s spectacular bust now leaving big brands that happily jumped feet first into the technology nursing bruised egos and deeper financial wounds. Nike has quickly become one of the biggest names in NFT space. Now it’s fighting a class-action lawsuit after announcing plans to close RTFKT, one...
Nike faces a class-action lawsuit of its own in federal court in Brooklyn. The company is accused of carrying out a “rugpull” when it suddenly terminated the RTFKT platform. Investors are sounding the alarm on “substantial harm.” They are seeking $5 million in damages for the harm they suffered when...
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,...
