In the twilight of digital illusions, Nike now finds itself ensnared in the cold machinery of justice, its dream of virtual gold reduced to rubble by the very hands that once bought promises. The RTFKT division, a modern Prometheus gifted—and cursed—by tech and culture, was abruptly struck down, leaving its NFT holders wandering a wasteland of worthless pixels.
The Fall of RTFKT: When Sneakers Became Ghosts in the Blockchain Machine
A coalition led by Jagdee Cheema from faraway Australia now marches through the courts of New York, demanding restitution for the vanished worth of their digital trophies. Once vibrant and sought after, these Nike-themed NFTs evaporated in December 2024 as the RTFKT unit ceased to exist. 🏃♂️💨 The lawsuit, whispered up by the relentless Reuters, alleges that Nike’s deathblow sent the market spiraling into chaos, the echoes of which still haunt wallets across four states—New York, California, Florida, and Oregon.
Yet what is an NFT in the eyes of the law? Neither fish nor fowl, securities nor sparks; the debate rages on like winter hunger. The lawsuit calls for over $5 million—hardly a meager sum for those who believed in the digital sanctity of ownership.
Nike’s grand acquisition of RTFKT in 2021 was like a colonel waving a banner into the new frontier—where culture entwined with code, where collectibles were reborn in light and bytes. Pronounced “artifact,” this venture promised to rewrite the rules of what we value and why.
— RTFKT (@RTFKT) December 2, 2024
Though RTFKT’s doors slammed shut in the cruel wind of December 2024, Nike claims its spirit lingers—dispersed among creators and projects yet unborn. An ironic echo, for those who held digital treasure now count only shadows.
March 2025 brought forth a new hope—or a new circus. Rosen Law Firm, wielding legal swords on behalf of the dispossessed, announced an investigation: a class action on the horizon, where payment is a ghost that only materializes with victory. The legal saga unfolds with the drama and absurdity of a Greek tragedy played out on Silicon Valley’s stage, as investors await justice, or at least a reimbursement, sewn together from the digital detritus of Nike’s broken dreams. 🏛️⚖️
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2025-04-26 21:23