Tag: nike

Nike is in the midst of a $5 million class action lawsuit brought by unhappy buyers of its non-fungible tokens (NFTs). Yet the lawsuit goes on to claim that Nike’s hasty actions in shutting down the RTFKT platform voided huge swathes of properties, drastically plunging the market value of digital...

Token ATH! is following this fast-moving story. Kinney makes the case that this is a development that might most profoundly affect the NFT universe. Photo by 360b via Shutterstock Nike is facing a lawsuit claiming it engaged in misleading practices with its NFT sales. The central question: Could this be...

The NFT space has witnessed a curious trend: while some mainstream brands are exiting, crypto-native companies remain deeply invested. This divergence presents some critical questions concerning the future direction of NFTs and the path forward for these two diverging camps. Why are heavy-hitter industry-leaders like Nike and Starbucks retreating? What...

Gen Z, listen up. You're not crazy. You're not alone. Are you experiencing that grim realization in your heart? It’s what you feel when you find out another corporate behemoth is trying to get into your wallets with the latest cool tech. Nike’s alleged "rug pull" with RTFKT is just...

The class action lawsuit against Nike over its RTFKT NFT offerings is about much more than a legal dispute. It should act as a wake-up call for the entire digital asset market. While the headlines scream "rug pull," the underlying issues point to critical flaws in how we approach NFTs...

Nike is being sued for its role in the RTFKT debacle. This venture began with impressive fanfare, only to come crashing down, resulting in more than just an enormous branding faux pas. It's a flashing neon sign pointing to a complex intersection: the volatile NFT market, corporate responsibility, and the...

Nike. The myth The name alone seems to evoke a legacy of athletic excellence, creative ingenuity and… reliability? Maybe used to. But a recent class-action lawsuit filed in Brooklyn alleges just that—a “rug pull” happened in the RTFKT NFT project. This can and should be a deep dive into the...

As exciting and innovative of a space as NFTs is, it certainly isn’t free from legal actions. A new lawsuit has hit Nike and its newly-acquired subsidiary, RTFKT. As with many existing cases, this case underscores the risks and complexities associated with this new digital asset class. The suit explores...

Nike is being sued over what plaintiff calls a “textbook rug pull” with its Non-Fungible Tokens (NFTs). The lawsuit, titled Cheema v. Nike, Inc., alleges that the athletic apparel totem took advantage of the popularity of NFTs. It further claims that Nike misled investors as the market started to turn...

Nike is facing its own lawsuit at the moment. Plaintiffs are proposing more than $5 million in damages, alleging that the company broke consumer protection laws in multiple states. The court case plays out across four states — New York, Oregon, Florida and California. We wish the plaintiffs the best...