{"id":665860,"date":"2025-04-28T06:16:40","date_gmt":"2025-04-28T03:16:40","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/nike-sued-for-5-million-over-its-shutdown-of-nft-platform-rtfkt\/"},"modified":"2025-04-28T06:16:40","modified_gmt":"2025-04-28T03:16:40","slug":"nike-sued-for-5-million-over-its-shutdown-of-nft-platform-rtfkt","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/nike-sued-for-5-million-over-its-shutdown-of-nft-platform-rtfkt\/","title":{"rendered":"Nike sued for $5 million over its shutdown of NFT platform RTFKT"},"content":{"rendered":"<p style=\"float:right;margin:0 0 10px 15px;width:240px\">\n                        <img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDQvMDE5Njc5ODAtNjNjNS03MjJmLTg4YTctNzNmNTM2ZWMzZGU3.jpg\" class=\"type:primaryImage\">\n                    <\/p>\n<p>A proposed class lawsuit is asking Nike for $5 million in damages, claiming it broke consumer protection laws and various state unfair trade and competition laws.<\/p>\n<p><p>Nike has been hit with a class-action lawsuit that accuses the sportswear giant of operating a rug pull for shuttering its non-fungible token (NFT) platform RTFKT in January.\u00a0<\/p>\n<p>A group of RTFKT users led by Jagdeep Cheema claimed in the proposed class suit <a rel=\"nofollow\" target=\"_blank\" data-ct-non-breakable=\"null\" href=\"https:\/\/www.courtlistener.com\/docket\/69944057\/1\/cheema-v-nike-inc\/\" rel=\"null\" target=\"null\" title=\"null\">filed<\/a> in a Brooklyn federal court on April 25 that they suffered \u201csignificant damages\u201d as a result of Nike touting its sneaker-<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">theme<\/a>d NFTs to gain investors, then shuttering the platform.<\/p>\n<p>The suit claimed the NFTs were unregistered securities, as Nike sold them without registering with the Securities and Exchange Commission. It accused the company of using \u201cits iconic brand and marketing prowess to hype, promote, and prop up the unregistered securities that RTFKT sold.\u201d<\/p>\n<p>Read more<\/p>\n<\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN63nwsw68G3Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/category\/general\/\" target=\"_blank\" >General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/nike-class-suit-over-shutdown-nft-platform-rtfkt?utm_source=rss_feed&#038;utm_medium=feed&#038;utm_campaign=rss_partner_inbound\" target=\"_blank\" >Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A proposed class lawsuit is asking Nike for $5 million in damages, claiming it broke consumer protection laws and various state unfair trade and competition laws. Nike has been hit with a class-action lawsuit that accuses the sportswear giant of operating a rug pull for shuttering its non-fungible token (NFT) platform RTFKT in January.\u00a0 A&#8230;<\/p>\n","protected":false},"author":1,"featured_media":665861,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2025-04\/01967980-63c5-722f-88a7-73f536ec3de7","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[77892,95118,117,71433,55229,67874],"class_list":["post-665860","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-crypto-collectibles","tag-nft","tag-business","tag-court","tag-law","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/665860","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=665860"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/665860\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/665861"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=665860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=665860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=665860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}