NIKE, one of the world’s largest luxury fashion brands and encryption market investors, has conducted a class action lawsuit to give up buyers of tokens and other encryption items without NIKE themes. NFT and Crypto Traders complained that they suffered enormous losses after the closure of RTFKT, Digital Asset Incubation Studio and NFT Marketplace.
NIKE faced a $ 5 million lawsuit from investors who claimed that sudden NFT venture shutdown caused tremendous financial losses.#Nike #nftshttps://t.co/quelujph7i
-Cryptonews.com (@Cryptonews) April 28, 2025
Fashion brand NIKE was accused of closing RTFKT
On Friday, April 26, 2025, Australian resident Jagdeep Cheema’s encryption and abusive token investor groups took a group action in the Federal Court for Brooklyn and NIKE in New York. In the proposed bill, the investors complained that when the Athletic Wear Company and Fashion Brand ‘Nike’ suddenly closed the RTFKT, the business that created Clone X Digital Assets, it suffered a tremendous loss.
NIKE Theme NFT investors have begun to shake last week after a violent debate in X after some encryption and invading token users found strange errors in the unable to fail copy XX. The Clone X NFT collection has no visible art, and the impossible token holder has only broken links and NFT production numbers. Nike is OR
> Please replicate
> Make $ 81.3m in NFT sales
> Get $ 37.8m in Royalty
> Air drop sneaker coupon
> Silence
> End
> Do not pay the server cost
> I left a dream and a dream. pic.twitter.com/rswxhrtwTE-Pix 🔎 (@pixonchain) April 24, 2025
Founded in 2020, RTFKT is a digital asset incubation studio, which was a digital asset incubation studio recognized in the NFT market to create original digital assets by using the engine’s engine, world -class design and AR. RTFKT began to increase popularity after Clone X started pessimistic token collections. Clone X is a NFT collection with a limited edition of 20,000 NFT hosted on Etherrium Blockchain Network.
The Clonex NFT Collection continued to be traction among merchants, and the value of the floor was height. At that time, Clone X recorded a broken chin in the rare NFT. At the top of the list was Clone X #4594, which was sold in 450 ETH in 2022. Clone X #13134 was sold for 368 ETH. The top 10 of the most expensive clones x NFTS have traded more than $ 500,000.
When 2021 came and the NFT craze reached a fever, RTFKT was a big hit that Nike took over the end of the year. NFT Studio continued to sell more than $ 3.1 million in 2021. In addition to the famous Clonex NFT collection, RTFKT has launched many NFT collections, including the Cryptokicks NFT collection.
The RTFKT NFT Studios spent time in Web3 Limelight and showed a deep understanding of how to utilize the power of over -advertising and use it as a long -term success. Before leaving the NFT market, NFT Studio RTFKT sold more than $ 5 million by selling inseparable token collections and other encryption assets. NIKE, a symbolic fashion brand, closed NFT Studio RTFKT on December 2, 2024.
-RTFKT (@RTFKT) December 2, 2024
NFT merchants want to regain their funds
In the eastern part of New York, the US District Court, No. 25-02305, buyers of tokens and other cryptocurrency assets without NIKE themes suffered more than $ 5 million in violation of New York, California, Florida and Oregon Consumer Protection Act. Nevertheless, these NFT merchants deeply regretted trusting NIKE.
In a short pressure with Reuters, they said they would not have purchased NFT at one price if they knew that tokens were unregistered securities. In the meantime, NIKE, headquartered on the beaver turn of duck, did not respond to the request. Philip Kim, a lawyer of the plaintiff, also refused to comment.
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