A lawsuit has been filed against Nike, alleging that the company’s sudden shutdown of the RTFKT NFT platform resulted in significant financial losses for users. The plaintiffs claim Nike exploited its brand and marketing to entice investors, leading to a sharp decline in the value of their RTFKT NFTs after Nike abruptly ended the project. 2021 saw Nike acquire RTFKT Studios, creators of digital assets resembling sneakers and other collectibles, promising long-term benefits and rewards for users involved in this venture. Users purchased these NFTs based on Nike’s promise of continued development and growth, but were left with worthless assets when the platform was abruptly closed down. The lawsuit seeks a $5 million settlement to compensate users who experienced substantial financial losses. This case hinges on whether Nike’s marketing practices constituted illegal unregistered securities sales while the SEC continues to grapple with classifying NFTs as securities.