Tag: rug pull

Nike's NFT 'Rug Pull' Is A Gen Z Wake-Up Call

Nike's NFT 'Rug Pull' Is A Gen Z Wake-Up Call

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...

Nike NFT Lawsuit: A $5M 'Rug Pull' or Just Market Volatility?

Nike NFT Lawsuit: A $5M 'Rug Pull' or Just Market Volatility?

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 Faces $5 Million Lawsuit Over NFT "Rug Pull" Allegations

Nike Faces $5 Million Lawsuit Over NFT "Rug Pull" Allegations

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's NFT 'Rug Pull' Exposes Web3's Broken Promises to Gen Z

Nike's NFT 'Rug Pull' Exposes Web3's Broken Promises to Gen Z

The lawsuit against Nike, which seeks more than $5 million, isn’t only about the money. It's a seismic crack in the carefully constructed facade of Web3, revealing the chasm between the utopian promises peddled to Gen Z and the harsh realities of unregulated digital speculation. Nike, a brand synonymous with...

Nike NFT Lawsuit: $5M 'Rug Pull' or Risky Investment?

Nike NFT Lawsuit: $5M 'Rug Pull' or Risky Investment?

The universe of NFTs, or Non-Fungible Tokens, is the current digital asset wild west craze. It’s an industry where fortunes can be made or lost in the blink of an eye! At Token ATH!, we’re monitoring these advancements, cutting through the noise and BS. One of the most recent cases...