Buyers of the cryptocurrencies and NFTS complained against Nike last Friday: They had suffered significant losses after Nike abruptly closed the company that created these assets. According to a class action lawsuit, which was submitted to the Federal Court in Brooklyn, New York, the closure of the “RTFKT unit” in December brought the demand for its NFTs to dry up. Under the direction of the Australian Jagdeep Chema, the plaintiffs stated that they had never bought the NFTs at the prices, they knew that the token was not registered securities, ”writes the Reuters news agency. The legal status of NFTS is currently considered unclear. After many litigation as to whether they are securities under federal law or not, they have not yet come to any result.
The lawsuit now calls for an unadorned compensation of over $ 5 million due to alleged violations of consumer protection laws in the States of New York, California, Florida and Oregon. In 2021, Nike RTFKT (spoken “Artefakt”) bought the reason for “pioneering innovations to provide collectibles of the next generation that combine culture and games”. In December 2024, Nike finally announced RTFKT. The innovations that the company represented at the time would continue to live by “the countless creators and projects” that it inspired, says Nike.
