Nike faces $5 million class action lawsuit over shutdown of NFT arm RTFKT ⚖️
Nike is embroiled in a legal battle after winding down its NFT arm, RTFKT. A group of disgruntled buyers has filed a class action lawsuit against the sportswear giant, claiming a $5 million loss due to an alleged rug pull. The lawsuit accuses Nike of abruptly shutting down the NFT platform, misleading customers who invested in RTFKT's digital offerings.
The outcome of this lawsuit could have significant implications for companies venturing into the NFT space. As businesses continue to explore blockchain technologies and digital assets, consumer protection in the crypto world comes under increasing scrutiny.
Source: www.theblockcrypto.com ↗
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