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Why are Investors suing Nike over the closure of RTFKT and Demanding $5 million
Listen, there's a big story going on with Nike and their digital division RTFKT, and I want to tell you because it's really interesting.
In general, Nike bought RTFKT studio in 2021 — it's such a fashionable company that made NFT sneakers and all sorts of digital stuff. Back then, the NFT market was at its peak, and the purchase looked like a super move: fashion, games, and blockchain all rolled into one! Projects like CloneX and Cryptokicks raised millions of dollars, and people were promised a bunch of chips: game quests, creating their own sneakers, exclusive gifts, access to rare releases. In short, everything looked cool.
But the problem is that in 2023-2024, interest in NFT began to decline altogether. And so in December 2024, Nike announced: that's it, the last "Blade Drop" — and RTFKT is officially closing. Formally, they said that this was a "transition to preserving the brand's heritage," but in fact they closed almost the entire ecosystem. All those cool things that were promised — quests, new releases, trade between users — have disappeared. And with it, the prices of NFTs, which used to cost thousands of dollars, collapsed.
Now, a group of investors has sued Nike and is demanding $5 million. They believe that they were deceived: they sold tokens as securities without registration and promised active development, which did not happen. Moreover, lawyers refer to the so—called "Howie test", according to which Nike's NFTS can be recognized as securities - after all, buyers expected to make a profit due to the company's efforts.
And here is the main argument in the lawsuit: Nike allegedly first earned money by selling tokens, and then simply closed the project, leaving users with useless digital assets.
Can you imagine? In one day, people lost everything they had hoped for.
Do you think companies like Nike or the investors themselves, who believe too much in HYPE, are more to blame in such stories?
#NIKE #NTF #CryptoNewss #crypto
In general, Nike bought RTFKT studio in 2021 — it's such a fashionable company that made NFT sneakers and all sorts of digital stuff. Back then, the NFT market was at its peak, and the purchase looked like a super move: fashion, games, and blockchain all rolled into one! Projects like CloneX and Cryptokicks raised millions of dollars, and people were promised a bunch of chips: game quests, creating their own sneakers, exclusive gifts, access to rare releases. In short, everything looked cool.
But the problem is that in 2023-2024, interest in NFT began to decline altogether. And so in December 2024, Nike announced: that's it, the last "Blade Drop" — and RTFKT is officially closing. Formally, they said that this was a "transition to preserving the brand's heritage," but in fact they closed almost the entire ecosystem. All those cool things that were promised — quests, new releases, trade between users — have disappeared. And with it, the prices of NFTs, which used to cost thousands of dollars, collapsed.
Now, a group of investors has sued Nike and is demanding $5 million. They believe that they were deceived: they sold tokens as securities without registration and promised active development, which did not happen. Moreover, lawyers refer to the so—called "Howie test", according to which Nike's NFTS can be recognized as securities - after all, buyers expected to make a profit due to the company's efforts.
And here is the main argument in the lawsuit: Nike allegedly first earned money by selling tokens, and then simply closed the project, leaving users with useless digital assets.
Can you imagine? In one day, people lost everything they had hoped for.
Do you think companies like Nike or the investors themselves, who believe too much in HYPE, are more to blame in such stories?
#NIKE #NTF #CryptoNewss #crypto
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Hamster Kombat: New Cipher Code and Combo Card
------------------------------------------------------
**Game Highlights**
The popular blockchain game has released:
- New cipher code for rewards on April 28
- Limited edition NFT combo card
- Updates to improve game balance
**Player Benefits**
- Exclusive access for 24 hours for those who obtain it
- Double rewards for trial points until May 5
- Special qualification for tournaments
**Market Response**
The secondary market has seen significant activity:
- 45% increase in NFT trading volume
- HMSTR token price up by 12%
- 80,000 new players in 24 hours
#HMSTR #ntf #nft
#GameFi #Web3Games
$HMSTR
------------------------------------------------------
**Game Highlights**
The popular blockchain game has released:
- New cipher code for rewards on April 28
- Limited edition NFT combo card
- Updates to improve game balance
**Player Benefits**
- Exclusive access for 24 hours for those who obtain it
- Double rewards for trial points until May 5
- Special qualification for tournaments
**Market Response**
The secondary market has seen significant activity:
- 45% increase in NFT trading volume
- HMSTR token price up by 12%
- 80,000 new players in 24 hours
#HMSTR #ntf #nft
#GameFi #Web3Games
$HMSTR
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Nike Faces Lawsuit Over Closure of Its Cryptocurrency Operations Linked to NFTs
Summary: Nike is facing a lawsuit after shutting down RTFKT's CryptoKicks, a company focused on cryptocurrencies tied to NFTs. A group of NFT holders and investors claims that Nike misrepresented the long-term sustainability of CryptoKicks and failed to deliver the promised products, resulting in financial damages.
Details of the Lawsuit:
Investors have filed a lawsuit against Nike after it terminated its NFT-related operations. The plaintiffs allege that Nike's decision devalued their NFT holdings and violated their contractual obligations. They are seeking damages, accusing Nike of withdrawing from the cryptocurrency market without adequate warning or transition planning.
Nike's Position:
Nike remains silent amid Web 3 community backlash
Nike has not issued an official statement, but industry analysts believe that this move is part of a broader shift for the company away from volatile Web3 projects.
#NIKE #NTF #Web3 #BlockchainNews #CryptoBusiness #Cryptolaw
Summary: Nike is facing a lawsuit after shutting down RTFKT's CryptoKicks, a company focused on cryptocurrencies tied to NFTs. A group of NFT holders and investors claims that Nike misrepresented the long-term sustainability of CryptoKicks and failed to deliver the promised products, resulting in financial damages.
Details of the Lawsuit:
Investors have filed a lawsuit against Nike after it terminated its NFT-related operations. The plaintiffs allege that Nike's decision devalued their NFT holdings and violated their contractual obligations. They are seeking damages, accusing Nike of withdrawing from the cryptocurrency market without adequate warning or transition planning.
Nike's Position:
Nike remains silent amid Web 3 community backlash
Nike has not issued an official statement, but industry analysts believe that this move is part of a broader shift for the company away from volatile Web3 projects.
#NIKE #NTF #Web3 #BlockchainNews #CryptoBusiness #Cryptolaw
🟨 $XRP
🔸 Buy
🔸 25x
🔸Open = 3.0418
🔹TP = 3.0902
---------------------
#MicroStrategyAcquiresBTC #signaladvisor #NTF #cryptouniverseofficial #TRUMP
00900
🔸 Buy
🔸 25x
🔸Open = 3.0418
🔹TP = 3.0902
---------------------
#MicroStrategyAcquiresBTC #signaladvisor #NTF #cryptouniverseofficial #TRUMP
00900
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SEC confirms closure of investigation into OpenSea marketplace
The United States Securities and Exchange Commission (SEC) is taking a new step in its retreat from the war on innovation. This time, regulators announced the abandonment of the investigation into the non-fungible token (NFT) marketplace, OpenSea. This news could clear the way for that battered sector.
The CEO and co-founder of the platform, Devin Finzer, celebrated the news and stated that it was a victory for the entire digital collectibles sector. “This is a victory for everyone who is creating and building in our space,” he said in a post on X.
In the same text, Finzer comments that “trying to classify NFTs as securities would have been a step backwards, one that misinterprets the law and slows down innovation.” However, the rectification of the regulators with their new direction changes the panorama completely and opens the doors for a commercial revival of the sector.
“Every creator, big or small, will be able to build freely without facing unnecessary barriers,” he said. The investigation into the OpenSea marketplace began in August last year by the SEC’s Gary Gensler administration. The argument is that the platform was illegally trading securities, which constitutes a federal crime.
Gensler also considered that NFTs were unregistered securities under the Howey Test scheme of the securities laws of the early 2000s.
What does the end of the OpenSea investigation represent for the NFT market?
Since the crypto winter of 2022, the NFT market has never fully recovered. Several factors formed a perfect storm that keeps these assets at the bottom of interest among investors. Among these elements, the disappearance of enthusiasm for the Metaverse stands out.
$SOL
$BNB
#NTF
The United States Securities and Exchange Commission (SEC) is taking a new step in its retreat from the war on innovation. This time, regulators announced the abandonment of the investigation into the non-fungible token (NFT) marketplace, OpenSea. This news could clear the way for that battered sector.
The CEO and co-founder of the platform, Devin Finzer, celebrated the news and stated that it was a victory for the entire digital collectibles sector. “This is a victory for everyone who is creating and building in our space,” he said in a post on X.
In the same text, Finzer comments that “trying to classify NFTs as securities would have been a step backwards, one that misinterprets the law and slows down innovation.” However, the rectification of the regulators with their new direction changes the panorama completely and opens the doors for a commercial revival of the sector.
“Every creator, big or small, will be able to build freely without facing unnecessary barriers,” he said. The investigation into the OpenSea marketplace began in August last year by the SEC’s Gary Gensler administration. The argument is that the platform was illegally trading securities, which constitutes a federal crime.
Gensler also considered that NFTs were unregistered securities under the Howey Test scheme of the securities laws of the early 2000s.
What does the end of the OpenSea investigation represent for the NFT market?
Since the crypto winter of 2022, the NFT market has never fully recovered. Several factors formed a perfect storm that keeps these assets at the bottom of interest among investors. Among these elements, the disappearance of enthusiasm for the Metaverse stands out.
$SOL
$BNB
#NTF
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#NTF https://www.binance.info/fan-token/BWS/CBF?utm_source=fan-token&ref=960763756®isterChannel=cbf&utm_campaign=cbf-fanverse-invite
new free NTF CLAIM NOW up to 9 usd
new free NTF CLAIM NOW up to 9 usd
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Doodles NFT Trading Volume Hits $16 Million Weekly After Memecoin Announcement
Doodles NFT Collection Hits $16 Million Weekly Trading Volume. The NFT Marketplace Adopts a Dual-Chain Approach.
Doodles NFT Collection Hits a Notable $16 Million Weekly Trading Volume After Announcing $DOODS, a Solana-Based Memecoin.
This High Represents the Collection’s Second Highest Trading Peak in 2024
#memocoins #Doodles #NTF
$MEME
Doodles NFT Collection Hits $16 Million Weekly Trading Volume. The NFT Marketplace Adopts a Dual-Chain Approach.
Doodles NFT Collection Hits a Notable $16 Million Weekly Trading Volume After Announcing $DOODS, a Solana-Based Memecoin.
This High Represents the Collection’s Second Highest Trading Peak in 2024
#memocoins #Doodles #NTF
$MEME
$ATOM
🔸 Sell
🔸 25x
🔸Open = 6.193
🔹TP = 5.991
---------------------
#NTF #signaladvisor #trump #Signal🚥.
🔸 Sell
🔸 25x
🔸Open = 6.193
🔹TP = 5.991
---------------------
#NTF #signaladvisor #trump #Signal🚥.
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WANT TO HAVE FREE NTF? THEN CLICK ON THIS LINK: ici
#NTF #NTFbrasileiro #BinanceAlphaAlert #EarnFreeCryptoto2025 #crypto
#NTF #NTFbrasileiro #BinanceAlphaAlert #EarnFreeCryptoto2025 #crypto
UPDATE ON TODAY #Monad #LAYER3 {Airdrop Follow up}
Campaign
The Monad Explorer
Put your explorer hat on — and dive into the top Monad apps. This campaign is organised with the support of all the partnering protocols and is not an official Monad campaign.
Monad Explorer: Kintsu
Next gen liquid staking infrastructure on Monad.
Kintsu #NTF #MINT
#EthereumRollbackDebate
Campaign
The Monad Explorer
Put your explorer hat on — and dive into the top Monad apps. This campaign is organised with the support of all the partnering protocols and is not an official Monad campaign.
Monad Explorer: Kintsu
Next gen liquid staking infrastructure on Monad.
Kintsu #NTF #MINT
#EthereumRollbackDebate
Binance Academy
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Binance Takes Action to Combat Financial Crime
As Halloween night approaches and the world prepares to be plagued by spells and tricks, Binance remains vigilant against digital scammers ready to prey on unwitting users.
Key points to remember
From multi-layered risk control systems to partnerships with law enforcement, Binance’s approach to combating financial crime is constantly evolving to keep pace with threats.
Key points to remember
From multi-layered risk control systems to partnerships with law enforcement, Binance’s approach to combating financial crime is constantly evolving to keep pace with threats.
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The Trump family-backed World Liberty Financial has launched its own token reserve to support various crypto ecosystems, the company said in a post on its X platform on Wednesday.
World Liberty said it will diversify its token holdings and will also work with traditional finance firms to invest their tokenized assets in the reserve.
#memecoin🚀🚀🚀 #NTF #BinanceAlphaAlert #TrumpFamily
World Liberty said it will diversify its token holdings and will also work with traditional finance firms to invest their tokenized assets in the reserve.
#memecoin🚀🚀🚀 #NTF #BinanceAlphaAlert #TrumpFamily
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SEC Drops OpenSea Investigation, NFTs Enter New Era
The Securities and Exchange Commission has dropped its investigation into OpenSea without classifying NFTs as securities. The decision is seen as a victory for the NFT industry, but regulatory uncertainty remains.
The U.S. Securities and Exchange Commission (SEC) has officially ended its investigation into OpenSea without filing any charges. OpenSea CEO Devin Finzer described the
#OpenSea #NTF
$ETH
The Securities and Exchange Commission has dropped its investigation into OpenSea without classifying NFTs as securities. The decision is seen as a victory for the NFT industry, but regulatory uncertainty remains.
The U.S. Securities and Exchange Commission (SEC) has officially ended its investigation into OpenSea without filing any charges. OpenSea CEO Devin Finzer described the
#OpenSea #NTF
$ETH
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📊 Updates in the crypto space! Bitwise has taken a step further towards the creation of an ETF backed by XRP in the United States, as the SEC has formally accepted its application. This marks the beginning of the authorization process, granting 21 days to receive public comments. Although XRP did not record immediate gains, Ripple's CEO, Brad Garlinghouse, remains confident in the possibility of an ETF in the future. What do you think about the potential of an XRP ETF? Share your opinion in the comments!
For more interesting news about cryptocurrencies and more, follow me, I am criptorex 🦠
YT: criptorex 🦠
$XRP
#NTF #Xrp🔥🔥
For more interesting news about cryptocurrencies and more, follow me, I am criptorex 🦠
YT: criptorex 🦠
$XRP
#NTF #Xrp🔥🔥
PotentialYear-Round Ban
Binance Square is a social networking platform within the Binance ecosystem where users can share thoughts, discover news, and discuss crypto.
Here's the information about the Russia's potential ban on cryptocurrency mining in the Irkutsk region as reported on Binance Square
Potential Year-Round Ban: The Irkutsk region, Russia's largest Bitcoin mining hub, is considering a year-round ban on all cryptocurrency mining activities starting April 1, 2025.
Duration: This ban could potentially last until mid-2031.
Affected Area: The ban would specifically apply to the southern part of the Irkutsk region in Siberia.
Reasoning: The ban is likely due to concerns about energy shortages in the region, as large mining facilities in southern Irkutsk consume a significant amount of electricity (approximately 650 megawatts).
Impact: Industry insiders are concerned that a complete ban would create significant challenges for existing mining centers, making it difficult for them to relocate due to network connectivity issues in other regions and existing winter bans in neighboringareas.
Previous Restrictions: It's worth noting that there was a temporary winter ban on crypto mining in the southern Irkutsk region, as well as other regions in Russia, that was in effect from January 1, 2025, to March 15, 2025.
This information was reported on Binance Square on March 31, 2025.
#btc
#NTF
#Saylor500KClub EEA
Binance Square is a social networking platform within the Binance ecosystem where users can share thoughts, discover news, and discuss crypto.
Here's the information about the Russia's potential ban on cryptocurrency mining in the Irkutsk region as reported on Binance Square
Potential Year-Round Ban: The Irkutsk region, Russia's largest Bitcoin mining hub, is considering a year-round ban on all cryptocurrency mining activities starting April 1, 2025.
Duration: This ban could potentially last until mid-2031.
Affected Area: The ban would specifically apply to the southern part of the Irkutsk region in Siberia.
Reasoning: The ban is likely due to concerns about energy shortages in the region, as large mining facilities in southern Irkutsk consume a significant amount of electricity (approximately 650 megawatts).
Impact: Industry insiders are concerned that a complete ban would create significant challenges for existing mining centers, making it difficult for them to relocate due to network connectivity issues in other regions and existing winter bans in neighboringareas.
Previous Restrictions: It's worth noting that there was a temporary winter ban on crypto mining in the southern Irkutsk region, as well as other regions in Russia, that was in effect from January 1, 2025, to March 15, 2025.
This information was reported on Binance Square on March 31, 2025.
#btc
#NTF
#Saylor500KClub EEA
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Bitcoin: Five interesting facts about the cryptocurrency you need to know
I started my journey into cryptocurrency by converting all my pounds into Bitcoin. I felt very comfortable doing this because Bitcoin is just like regular money. Instead of being controlled by banks and governments, this currency is controlled by a decentralized network of computers and ledgers called the ‘blockchain’.
While I was happy to give my money away on the web, I quickly realized that Bitcoin could be used to buy drugs online, which was something I had never tried. You can't use Bitcoin for your weekly shopping. I know this because people laughed at me at a store.
To replenish my dwindling supply of chocolate chip cookies, I had to travel all the way to El Salvador. Along with having the highest murder rate in the world, El Salvador is also known for recently introducing Bitcoin as one of its official currencies. Unfortunately, only 30 percent of the population owns a smartphone. Although there are some great volcanoes to enjoy,
2. NFTs are just receipts
As a comedian, I’m already somewhat of an artist, so I decided to venture into the online art market. Although I keep the walls of my apartment completely bare by choice, except for this one ‘Scarface’ poster I’ve had since 1996.
I am known to enjoy looking at great art, like a painting of a naked woman or a painting of a woman dressed in clothes. Or a painting by Van Gogh in France.
Bitcoin: Five interesting facts about the cryptocurrency you need to know
I started my journey into cryptocurrency by converting all my pounds into Bitcoin. I felt very comfortable doing this because Bitcoin is just like regular money. Instead of being controlled by banks and governments, this currency is controlled by a decentralized network of computers and ledgers called the ‘blockchain’.
While I was happy to give my money away on the web, I quickly realized that Bitcoin could be used to buy drugs online, which was something I had never tried. You can't use Bitcoin for your weekly shopping. I know this because people laughed at me at a store.
To replenish my dwindling supply of chocolate chip cookies, I had to travel all the way to El Salvador. Along with having the highest murder rate in the world, El Salvador is also known for recently introducing Bitcoin as one of its official currencies. Unfortunately, only 30 percent of the population owns a smartphone. Although there are some great volcanoes to enjoy,
2. NFTs are just receipts
As a comedian, I’m already somewhat of an artist, so I decided to venture into the online art market. Although I keep the walls of my apartment completely bare by choice, except for this one ‘Scarface’ poster I’ve had since 1996.
I am known to enjoy looking at great art, like a painting of a naked woman or a painting of a woman dressed in clothes. Or a painting by Van Gogh in France.
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