Nike Sued After Shuttering NFT Unit—Buyers Allege Major Crypto Losses
A collective of upset NFT purchasers has brought a lawsuit against Nike after the company shut down its digital collectibles division, RTFKT. According to a report by Reuters, the lawsuit, filed Friday in Brooklyn, New York, alleges that the sportswear colossus’s sudden shutdown erased hundreds of thousands of dollars’ worth of digital asset value. Related […]
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Nike has filed a lawsuit against an online reseller using unauthorized Nike shoe images in non-fungible tokens (NFTs). “Those unsanctioned products are likely to confuse consumers, create a false association between those products and Nike, and dilute Nike’s famous trademarks,” Nike alleges. Nike Sues Online Retailer Over NFT Sales Sneaker giant Nike filed a lawsuit against online reseller Stockx in New York federal court last week for selling non-fungible tokens (NFTs) using unauthorized images of Nike shoes. Detroit-based Stockx, valued at more than $3.8 billion....
Nike intends to sell you digital products in the Metaverse, and you will buy them because Nike knows how to make you want them. Look at your feet. A lot of you (raises hand) are wearing Nikes right now. For the fiscal year ending May 31, 2021, Nike reported its revenue was up 19% to $44.5 billion for the year. But that’s here. What about in the Metaverse?Why Nike is interested in the MetaverseFor those as of yet unfamiliar with the concept, the easiest — yet very incomplete — way of imagining the Metaverse is imagining yourself existing in a real-life video game. Nike enters and provides....
Nike, the American multinational footwear and sports apparel giant, is getting ready to step into the metaverse and the world of non-fungible token (NFT) technology. Reports show Nike has a few employees “thinking about the metaverse” and a 2019 patent for “cryptokicks” indicates Nike has been preparing to use NFTs for quite some time.
Nike’s Well-Known Trademarks and ‘Downloadable Virtual Goods’
Several reports indicate that Nike (NYSE:NKE) is getting ready to step into the non-fungible technology realm and the footwear....
Nike, the American multinational footwear and sports apparel company has announced the acquisition of a startup called RTFKT Studios, a firm that leverages non-fungible token (NFT) assets, blockchain authentication, and augmented reality. Nike says the acquisition will allow the company “to deliver next-generation collectibles that merge culture and gaming.”
Nike Steps Into the Metaverse by Acquiring RTFKT Studios
On December 13, Nike announced the company has purchased the digital collectibles firm RTFKT Studios. The news follows Nike’s initial steps toward....
As Nike would say – just do it – and it did. The athletic brand takes it a notch higher with millions of bucks in NFT sales. Despite non-fungible tokens’ second-quarter trading volume falling 40% as interest in NFTs begins to fade, Nike has set a record by becoming the world’s highest-earning brand through digital […]