Nike Sued Over Closure of Crypto Business Linked to NFTs

 Eastern District of New York, the lawsuit is led by Australian resident Jagdeep Cheema. It alleges that Nike’s sudden closure of RTFKT in December 2024 caused the market for Nike-themed NFTs and other digital assets to collapse. Buyers say they were left with assets that lost much of their value overnight.

Buyers are asking for more than $5 million, saying Nike broke consumer protection laws in states like New York, California, Florida, and Oregon.