nike

Nike's NFT 'Rug Pull' Exposes Crypto's Wild West: Here's How to Tame It

Nike's NFT 'Rug Pull' Exposes Crypto's Wild West: Here's How to Tame It

The promise of NFTs was intoxicating. A new era of digital ownership, community, and creative expression made possible through blockchain technology. We dreamt of a future where artists can engage with their fans one-on-one. In this alternative vision, digital collectibles have real value and the internet is more decentralized and...

Nike Faces Lawsuit Over Plunging NFT Values After RTFKT Platform Closure

Nike Faces Lawsuit Over Plunging NFT Values After RTFKT Platform Closure

Nike is defending itself in a high-profile lawsuit in New York. Now the shutdown of its RTFKT platform has resulted in massive rug pulls for holders of their Non-Fungible Tokens (NFTs). On April 25, this new lawsuit was filed in New York’s Eastern District court. It claims that consumer protection...

Nike NFT Lawsuit: A $8,000 Crash and 'Rug Pull' Allegations

Nike NFT Lawsuit: A $8,000 Crash and 'Rug Pull' Allegations

Nike, the global sportswear giant, finds itself embroiled in a legal battle over its foray into the world of Non-Fungible Tokens (NFTs). Specifically, on April 25—just days later—a class-action lawsuit was filed in a Brooklyn federal court. It claims Nike planned to execute a “rug pull” by turning off its...

NFT Royalties: Nike's Lawsuit a Wake-Up Call for Ethical Innovation

NFT Royalties: Nike's Lawsuit a Wake-Up Call for Ethical Innovation

Nike's recent lawsuit over its RTFKT NFT project isn't just about money. It's a glaring symptom of a much deeper problem: the Wild West mentality that has plagued the NFT space. It's a wake-up call reminding us that innovation without ethics is a dangerous game, particularly when real people's livelihoods...

Nike Faces $5 Million Lawsuit Over NFT Securities Allegations

Nike Faces $5 Million Lawsuit Over NFT Securities Allegations

Nike sued to the tune of $5 million in the Eastern District of New York. The complaints allege that the athletic apparel behemoth breached securities laws in its deployments of non-fungible tokens (NFTs) associated with RTFKT, the virtual sneaker firm it bought in 2021. That lawsuit alleges that Nike leveraged...

Nike NFT Lawsuit: Did Sneaker Drops Become Unregistered Securities?

Nike NFT Lawsuit: Did Sneaker Drops Become Unregistered Securities?

The world of NFTs, originally touted as a new and exciting space where anything could be created and owned digitally, is under ongoing legal fire. A recent lawsuit against Nike could help answer one of the key questions. It pushes back on the argument that some NFTs should be deemed...

Nike NFT Lawsuit Exposes Crypto's Achilles Heel: Centralized Control

Nike NFT Lawsuit Exposes Crypto's Achilles Heel: Centralized Control

So, Nike's in hot water. A $5 million lawsuit alleging a "soft rug pull" after allegedly abandoning RTFKT and leaving NFT holders with worthless digital sneakers. Sounds like a typical crypto beware story, doesn’t it? Wrong. This isn't just about Nike; it's a flashing neon sign screaming about the real...

NFT Apocalypse? Why Nike's Blunder Could Save Crypto's Soul

NFT Apocalypse? Why Nike's Blunder Could Save Crypto's Soul

Okay, let's be real. The CloneX image disappearing act? It was a gut punch. I had experienced the shivering birds-eye tweets, the waddling into a bunker Discord chat paddle… People lost their digital collections and real dollars left their pockets, making the promise of digital ownership feel incredibly hollow. Before...

Vanishing NFTs: Nike's RTFKT Scare & Your Digital Ownership

Vanishing NFTs: Nike's RTFKT Scare & Your Digital Ownership

The world of Non-Fungible Tokens (NFTs) promises digital ownership, but a recent incident involving Nike's RTFKT brand has exposed a critical vulnerability. Several Ethereum NFT collections from RTFKT unfortunately lost their artwork. This initial incident raised major alarms over what true ownership looks like when it comes to digital assets....

Vanishing NFTs: Nike's Wake-Up Call for Royalty Rights & Real Ownership

Vanishing NFTs: Nike's Wake-Up Call for Royalty Rights & Real Ownership

The internet lit up with panic. Picture this, you invest your hard-earned money into a one-of-a-kind piece of digital artwork. Because not only does it bear the weight of your hard-earned achievements and link you to a colorful community of makers, dreamers, doers and shakers, but suddenly – poof –...

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