The lawsuit seeks a class action brought on behalf of anyone who bought a pair of virtual sneakers or another digital ...

In the Nike case, the plaintiffs’ allegations of an unregistered securities violation and deceptive practices might not have had the same outcome had the lawsuit been filed before this shift in policy ...

Nike is being hit with a class action lawsuit demanding over $5 million in damages after shutting down its Web3 NFT platform RTFKT in January. A group of RTFKT users filed the lawsuit in the Eastern ...

Nike's closed the company, and now it's been sued. RTFKT made virtual sneakers and other items that could be used in metaverse applications. It also worked on physical shoe collections ...

The lawsuit digs into a core issue: Nike allegedly marketed RTFKT NFTs not just as collectibles, but as access passes to ...

The violation warning that now appears on most of the RTFKT NFTs. Read more: Nike sues over sneaker NFTs to clean house before metaverse arrives Nike bought RTFKT in December 2021, during the COVID-19 ...

In 2021, Nike purchased RTFKT Studios, a collectibles firm known for creating viral sneaker designs, memes and other fashionable digital collectibles as it ventured into the metaverse, but the company ...

As of now, Nike has not issued a public statement in response to the lawsuit. The company has also remained quiet on the reasons behind the sudden shutdown of RTFKT and its broader exit from the NFT ...