<ul><li>Nike faces a $5 million class-action lawsuit after shutting down its RTFKT NFT platform in January 2025.</li><li>Investors claim Nike executed a “rug pull” by using its brand to promote NFTs then abandoning the project.</li><li>The lawsuit alleges RTFKT NFTs were unregistered securities sold without SEC registration.</li><li>Nike’s Cryptokicks NFTs dropped from around $8,000 in April 2022 to approximately $16 by April 2025.</li></ul>

Nike Faces $5 Million Lawsuit Over RTFKT NFT Platform Closure

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