Crypto Investors Sue Nike, Accuse Apparel Giant of Rug Pull After Abrupt Closure of Metaverse Business: Report
Giant sportswear Nike has been reported facing a lawsuit following the closing of the non -developed business token (NFT).
In 2021, Nike bought RTFKT Studios, a collectiv firm known for the creation of viral sneakers, memes and other stylish digital collectibles as it was in the metaveverse, but the company closed the project in December.
Reuters Report That NFF-themed NFT and other crypto assets led by Australian resident Jagdeep Cheema filed a suit on Friday, claiming that they had suffered significant losses while demand for their digital collectives that had fallen following the announcement that the RTFKT had been circulating.
Investors said they could not buy NFTs if they knew the tokens were not registered security. To date, the legal status of NFTs has not been fixed, and many suits involve questions about whether these possessions should be considered as security.
The suit also accused Nike of the orchestra of a “rug pull”, or the sudden abandonment of a project that leaves investors worthless.
The plaintiffs are looking for more than $ 5 million in injuries for alleged violations of consumer laws in New York, California, Florida and Oregon.
Nike has not released a statement about the lawsuit.
Follow us at X, Facebook and Telegram
Do not miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check price action
Surf with the sun -day hodl mix
& nbsp
Denial: Opinions expressed in Daily Hodl are not investment advice. Investors should do their appropriate hard work before making any investments at high risk to bitcoin, cryptocurrency or digital assets. Please advise that your transfers and trading are at your own risk, and any losses you can achieve is your responsibility. Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets, or the sun -day hodl an investment advisor. Please note that the day -to -day hodl participates in affiliate marketing.
Formed image: midjourney
