Nike is facing a lawsuit from people who bought its NFTs

image via The Verge

April 27, 2025, 8:15 PM

Nike, attempting to capitalize on the NFT craze, acquired RTFKT, a digital shoe company, in 2021. However, the project was shut down last year. Buyers of the digital assets are now suing Nike, alleging that the company caused a "rug pull" and accusing Nike of selling "unregistered securities." The class action lawsuit, filed in New York, seeks over $5 million in damages for consumer protection law violations.

Read original article