DNYUZ
  • Home
  • News
    • U.S.
    • World
    • Politics
    • Opinion
    • Business
    • Crime
    • Education
    • Environment
    • Science
  • Entertainment
    • Culture
    • Music
    • Movie
    • Television
    • Theater
    • Gaming
    • Sports
  • Tech
    • Apps
    • Autos
    • Gear
    • Mobile
    • Startup
  • Lifestyle
    • Arts
    • Fashion
    • Food
    • Health
    • Travel
No Result
View All Result
DNYUZ
No Result
View All Result
Home News

Nike Facing Class-Action Lawsuit From People Who Purchased RTFKT NFTs

April 28, 2025
in News
Nike Facing Class-Action Lawsuit From People Who Purchased RTFKT NFTs
497
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

On Friday, Nike was sued by buyers of its RTFKT non-fungible tokens (NFTs) who allege that the company engaged in deceptive marketing and other misconduct. Filed in New York’s Eastern District, the suit seeks “unspecified damages of more than $5 million USD for alleged violations of New York, California, Florida and Oregon consumer protection laws.”

Led by Australian resident Jagdeep Cheema, the suit states that Nike’s quick closure of RTFKT caused the demand for the buyers’ NFTs to decline and “the rug to be pulled out from under them,” per Reuters. The plaintiffs said they would not have purchased the digital assets had they known they were “unregistered securities.”

Nike purchased RTFKT in December 2021, with the plan of investing in the digital sneaker and fashion collectibles site, serving and growing the platform’s community, and extending Nike’s footprint in the space. In December of last year, Nike announced that it was winding down the platform, noting that the company was “recalibrating and reassessing its priorities as it moves into the next chapter of digital innovation.”

Nike has not commented on Friday’s class-action lawsuit, nor has Phillip Kim, the lawyer representing the plaintiffs in the case.

The post Nike Facing Class-Action Lawsuit From People Who Purchased RTFKT NFTs appeared first on Hypebeast.

Tags: Nikertfkt
Share199Tweet124Share
Intel’s Big Bet: Inside the Chipmaker’s Make-or-Break Factory
News

Intel’s Big Bet: Inside the Chipmaker’s Make-or-Break Factory

by New York Times
October 9, 2025

On the desert floor of the Phoenix Valley, Intel has poured more than $20 billion into a four-story manufacturing plant ...

Read more
Food

6 healthy foods that could secretly spike your blood sugar, and what to eat instead

October 9, 2025
News

Scientists Just Discovered What the Earliest Animals Actually Looked Like

October 9, 2025
News

Murdoch Paper Trashes Trump With Immigrant Nobel Prize Winners

October 9, 2025
News

This Town Doesn’t Like Rearmament. But It’s Ready to Build Tanks.

October 9, 2025
US sanctions Serbia’s main oil supplier controlled by Russia

US sanctions Serbia’s main oil supplier controlled by Russia

October 9, 2025
The duo you didn’t see coming: Nicholas Sparks and M. Night Shyamalan join forces on a ghostly love story

The duo you didn’t see coming: Nicholas Sparks and M. Night Shyamalan join forces on a ghostly love story

October 9, 2025
How Frankie Quiñones went from ‘CholoFit’ fame to working out his demons in new Hulu special

How Frankie Quiñones went from ‘CholoFit’ fame to working out his demons in new Hulu special

October 9, 2025

Copyright © 2025.

No Result
View All Result
  • Home
  • News
    • U.S.
    • World
    • Politics
    • Opinion
    • Business
    • Crime
    • Education
    • Environment
    • Science
  • Entertainment
    • Culture
    • Gaming
    • Music
    • Movie
    • Sports
    • Television
    • Theater
  • Tech
    • Apps
    • Autos
    • Gear
    • Mobile
    • Startup
  • Lifestyle
    • Arts
    • Fashion
    • Food
    • Health
    • Travel

Copyright © 2025.