In 2021, Nike entered the NFT market by acquiring RTFKT and launching a range of virtual shoes. Initially, the venture was successful, with NFTs fetching high prices. However, after RTFKT abruptly shut down in December 2024, Nike withdrew from NFTs, leading to a drastic drop in token value. Investors accused Nike of a “rug pull,” arguing that the NFTs constituted unregistered securities under the Howey test. A lawsuit now seeks $5 million in damages, claiming Nike misled investors and failed to maintain the promised value of the NFTs, which once thrived under its brand.
Here’s How Nike’s NFT Adventure Led to a Class Action Lawsuit – BitcoinBlog.de – das Blog für Bitcoin und andere virtuelle Währungen
