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BTCC / BTCC Square / Global Cryptocurrency /
Nike Faces Lawsuit Over NFT Unit Closure as Investors Claim Heavy Losses

Nike Faces Lawsuit Over NFT Unit Closure as Investors Claim Heavy Losses

Author:
Global Cryptocurrency
Published:
2025-04-27 09:35:01
7
1

Nike finds itself embroiled in legal turmoil following the abrupt shutdown of its RTFKT NFT division. A class-action lawsuit filed in Brooklyn alleges the sportswear giant’s decision wiped out hundreds of thousands in digital asset value, leaving collectors with worthless tokens.

Australian investor Jagdeep Cheema spearheads the $5 million damages claim, asserting Nike violated consumer protection laws across multiple states. The case highlights growing tensions between corporate NFT ventures and investor expectations in the volatile digital collectibles market.

|Square

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