{"id":155598,"date":"2025-04-28T15:00:43","date_gmt":"2025-04-28T12:00:43","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=155598"},"modified":"2025-04-28T13:48:03","modified_gmt":"2025-04-28T10:48:03","slug":"investors-sue-nike-following-sudden-shutdown-of-rtfkt-nft-platform","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/investors-sue-nike-following-sudden-shutdown-of-rtfkt-nft-platform\/","title":{"rendered":"Investors Sue Nike Following Sudden Shutdown of RTFKT NFT Platform"},"content":{"rendered":"<p>The lawsuit, filed Friday in federal court in Brooklyn, claims Nike\u2019s unexpected shutdown of its RTFKT division in December wiped out the market for its digital collectibles.<\/p>\n<p>The lead plaintiff, Jagdeep Cheema from Australia, and others argue that they would not have invested in the Nike-themed NFTs had they known the company would abruptly abandon the project. They also allege that the NFTs amounted to unregistered securities, and that Nike\u2019s actions amounted to pulling the rug out from under investors.<\/p>\n<p>Nike, headquartered in Oregon, has yet to publicly comment on the accusations. Lawyers representing the plaintiffs have also declined to offer further details.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/strategy-and-metaplanet-see-record-bitcoin-gains-amid-market-surge\/\" title=\"Strategy and Metaplanet See Record Bitcoin Gains Amid Market Surge\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2023\/11\/gold-coin-with-bitcoin-symbol-on-it-cryptocurrency-btc-1-240x170.webp\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Strategy and Metaplanet See Record Bitcoin Gains Amid Market Surge<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>The legal status of NFTs remains a gray area in U.S. law, with growing debate around whether they should be regulated as securities. This latest lawsuit is seeking more than $5 million in damages, citing alleged violations of consumer protection laws across several states including New York, California, Florida, and Oregon.<\/p>\n<p>Nike acquired RTFKT, pronounced \u201cartifact,\u201d in late 2021, positioning the brand as a pioneer blending fashion, gaming, and digital collectibles. However, on December 2, 2024, the company announced the completion of RTFKT\u2019s wind-down, stating that while the brand itself would be retired, its creative spirit would continue to influence future projects and communities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nike is facing a new legal battle after a group of NFT and crypto asset buyers accused the company of leaving them with major financial losses.<\/p>\n","protected":false},"author":3,"featured_media":3156,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[22],"tags":[],"class_list":["post-155598","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Investors Sue Nike Following 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