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