Nike has made a lawsuit worth $ 5 million, as a large NFT buyer loses after RTFKT turning off
Nike faces a new lawsuit from NFT buyers who claim to have lost their money after the company suddenly closed the digital assets department.
Buyers demand the closure of NIKE RTFKT causing NFT losses
A group of buyers, led by Australian resident Jagdee Cheema, filed a collective lawsuit in New York, claiming that when Nike suddenly closed the RTFKT unit in December 2024, the value and demand for NFTS collapsed, she said, I mentioned,,, Reuters. The unit had created NFTS with a NFTS and the origins of encryption.
The legal status of NFTS is still unclear, with continuous discussions on whether they are considered securities. The lawsuit, which was filed on Friday, seeks to obtain more than 5 million dollars as compensation for violations of consumer protection laws in New York, California, Florida and Oregon.
In December 2021, Nike acquired RTFKT, “Artifact”, with a vision to integrate advanced technology and cultural trends to create the next generation of holdings.
Although RTFKT was officially closed in December 2024, Nike stressed that its impact will continue through countless creators and projects that inspired it.
In March 2025, Rosen Lawyer CompanyThe International Investor Rights Law Company has announced an investigation into possible claims on behalf of the NFTS buyer of RTFKT. The company prepares a collective lawsuit to help investors recover the losses, with the need to pay only if they win. This investigation is part of the broader legal battle on the collapse of the Nike NFTS value, with claims seeking to obtain more than $ 5 million as compensation.
