Sources
Loading...
Additional media
Loading...
DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
Nike Faces Lawsuit for Alleged NFT “Rug Pull” https://t.co/4Jcq6qd8pz #Blog
Nike is facing a lawsuit from people who bought its NFTs https://t.co/9ZGdIkXUaM https://t.co/0YHuara60K
Sat with @mattmedved and @nowmedia to discuss the implications of the Nike lawsuit on the broader NFT sector. https://t.co/kq0HVT7frc
Nike is facing a $5 million class action lawsuit following the abrupt shutdown of its RTFKT NFT platform. The lawsuit, filed in the Eastern District of New York, alleges that Nike-themed NFTs were unregistered securities and accuses the company of conducting a "soft rug pull" by leaving investors stranded. The case highlights growing legal scrutiny in the Web3 and NFT sectors, with industry observers discussing the broader implications of this litigation for the future of digital assets linked to major brands.
