Nike’s NFT Sneaker Blunder!

Nike faces a $5 million lawsuit for shutting down the RTFKT NFT platform. Investors claim they were misled by Nike's promises regarding sneaker-themed NFTs, arguing they were unregistered securities. Plaintiffs say Nike used its brand to lure investors in, only to shut the platform down and destroy the NFT value. The lawsuit is gaining attention as it challenges the legal standing of NFTs in the US. Nike remains quiet for now, as the NFT market continues to face volatility.