{"id":56501,"date":"2025-04-28T04:15:10","date_gmt":"2025-04-28T04:15:10","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/56501\/"},"modified":"2025-04-28T04:15:10","modified_gmt":"2025-04-28T04:15:10","slug":"nike-is-facing-a-lawsuit-from-people-who-bought-its-nfts","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/56501\/","title":{"rendered":"Nike is facing a lawsuit from people who bought its NFTs"},"content":{"rendered":"<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph _1ymtmqpi _17nnmdy1 _17nnmdy0 _1xwtict1\">A group of people sued Nike this week over its decision to wind down its virtual show project RTFKT last year. The buyers of the digital assets accuse Nike of causing \u201cthe rug to be pulled out from under them,\u201d and say they wouldn\u2019t have bought its NFTs if they\u2019d known they were \u201cunregistered securities,\u201d <a href=\"https:\/\/www.reuters.com\/sustainability\/boards-policy-regulation\/nike-sued-over-closure-crypto-business-2025-04-25\/\" target=\"_blank\" rel=\"noopener\">reports Reuters<\/a>. <\/p>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph _1ymtmqpi _17nnmdy1 _17nnmdy0 _1xwtict1\">Filed in New York\u2019s Eastern District, the proposed class action lawsuit seeks \u201cunspecified damages of more than $5 million for alleged violations of New York, California, Florida and Oregon consumer protection laws.\u201d <\/p>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph _1ymtmqpi _17nnmdy1 _17nnmdy0 _1xwtict1\">Nike tried to jump into the NFT game by <a href=\"https:\/\/www.theverge.com\/22833369\/nike-rtfkt-nft-sneaker-shoe-metaverse-company\" target=\"_blank\" rel=\"noopener\">buying RTFKT in 2021<\/a>. But, <a href=\"https:\/\/www.theverge.com\/2024\/3\/15\/24102544\/starbucks-is-giving-up-on-its-nft-odyssey\" target=\"_blank\" rel=\"noopener\">like Starbucks Odyssey<\/a>, it never quite worked out and the company abandoned the idea, announcing in December via the RTFKT X account that it planned to \u201cwind down RTFKT operations\u201d by the end of January this year. <\/p>\n","protected":false},"excerpt":{"rendered":"A group of people sued Nike this week over its decision to wind down its virtual show project&hellip;\n","protected":false},"author":2,"featured_media":56502,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[51,2259,2725,12,29830,46,326,16,15,4715],"class_list":{"0":"post-56501","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-business","9":"tag-crypto","10":"tag-law","11":"tag-news","12":"tag-nfts","13":"tag-policy","14":"tag-tech","15":"tag-uk","16":"tag-united-kingdom","17":"tag-web"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114413654804211574","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/56501","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=56501"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/56501\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/56502"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=56501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=56501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=56501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}