Summary
- It was reported that Nike is facing a class-action lawsuit in the U.S. Federal Court in Brooklyn, New York, due to its withdrawal from the virtual asset business.
- The core of the lawsuit is that consumers suffered losses due to the termination of services by Nike's NFT subsidiary RTFKT.
- The damages claimed in this lawsuit amount to approximately $5 million.
Nike has been hit with a class-action lawsuit over its withdrawal from the virtual asset business.
According to Reuters on the 27th, a class-action lawsuit against Nike was filed in the U.S. Federal Court in Brooklyn, New York, on the 25th (local time). The core of the lawsuit is that consumers suffered losses as Nike's non-fungible token (NFT) subsidiary, RTFKT, ceased its services. The damages claimed in this lawsuit amount to approximately $5 million (about 7.2 billion KRW).
Previously, Nike acquired the NFT creator RTFKT in 2021. However, due to deteriorating profitability, the RTFKT service was officially terminated earlier this year.
JOON HYOUNG LEE
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