NFT Investors Sue Nike

This is a news story, published by Verge, that relates primarily to Nike news.

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lawsuit

Verge

•

Technology

Nike is facing a lawsuit from people who bought its NFTs

Summary

Nutrition label

66% Informative

A group of people are suing Nike over its decision to wind down its virtual show project RTFKT last year .

The buyers of the digital assets accuse Nike of causing “the rug to be pulled out from under them,” and say they wouldn’t have bought its NFTs if they’d known they were “unregistered securities” Nike tried to jump into the NFT game by buying a “digital shoe” company in 2021 .

VR Score

Informative language

Neutral language

Article tone

semi-formal

Language

English

Language complexity

Offensive language

not offensive

Hate speech

not hateful