Nike Slapped With $5M NFT Lawsuit—Did Swoosh Trademarks Just Become Unregistered Securities?
Sportswear giant Nike finds itself in crypto’s legal crosshairs as a class action alleges its NFT collections violated securities laws. The $5 million suit claims Nike’s .Swoosh platform functioned as an unregistered exchange—complete with investor promises of ’exclusive access’ and ’future utility.’
Legal landmine or regulatory overreach? The case hinges on whether digital sneakers qualify as investment contracts under the Howey Test. Meanwhile, Wall Street quietly files patents for NFT dividend structures—hypocrisy smells worse than week-old gym socks.
This isn’t Nike’s first Web3 rodeo. Their Cryptokicks patent dates back to 2019, and RTFKT’s $3M CloneX mints set early NFT benchmarks. But as the SEC circles, even blue-chip brands aren’t immune to crypto’s compliance reckoning.
