Investors Sue Nike for $5M Over Alleged RTFKT NFT Project Abandonment

A group of investors has filed a class action lawsuit against Nike, claiming that the athletic wear company caused significant financial losses by shutting down its Web3-focused subsidiary, RTFKT, and eliminating millions of dollars in investments. Court documents reveal that Nike allegedly “rug pulled” the community by shutting down RTFKT, severing demand for its associated digital assets. The plaintiffs argue that Nike leveraged its brand strength and marketing expertise to promote what they describe as unregistered securities, only to abruptly abandon the project. The lawsuit also claims that Nike took advantage of the cryptocurrency surge to boost sales of non-fungible The post Investors Sue Nike for $5M Over Alleged RTFKT NFT Project Abandonment first appeared on The Shib Daily source: https://news.shib.io/2025/04/28/investors-sue-nike-for-5m-over-alleged-rtfkt-nft-project-abandonment/?utm_source=rss&utm_medium=rss&utm_campaign=investors-sue-nike-for-5m-over-alleged-rtfkt-nft-project-abandonment