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A RTFKT buyer in Australia is prosecuting Nike through a proposed square-action trial, accusing him with many NFT collections with misleading practices, unfair competition, unjust promotion and apparel of illegal business practices.
The case filed last week in the eastern district of New York alleged that Nike through his assistant RTFKT, “Brezen Galicha Bridge”, pronounced “deformation evidence”, which he acquired in late 2021.
The filing seen by the allegations of blockworks stated, “Nike used its prestigious brand and marketing process, which to promote, promote and promote the unregistered securities sold by RTFKT.”
The 42-page filing argues in detail that the RTFKT sold in a series of various NFT collections was actually securities under the American law. But it also gives overlapping arguments that even though a court does not find those digital assets as securities, still matters five in the trial. It also argues that it draws rug, it is a “misleading task” and in itself.
Nike is accused of violating New York’s misleading acts and practices, Unlawful Act, California Inappropriate Competition Act, Florida misleading and unfair trade practices Act, and Oregon Unlawful Business Practices Act.
This further accuses the “unjust enrichment”, accusing Nike of “rich” with the funds of NFT buyers.
The dispute is more than a minimum of $ 5 million, but the filing does not explain a dollar of especially the desired compensation.
Nike made cash piles from RTFKT. One Scatter It was found that Clonx “Mintwial” alone caused more than $ 80 million in revenue.
The RTFKT trading activity reached the peak in 2022, but it had reduced to a great extent by 2023. The clonax avatar made with artist Takashi Murakami was the most successful collection of ever.
RTFKT so Announced It was closing in December 2024, exactly three years after Nike achieved it. No reason for shutdown was given.
The RTFKT chief of Tech Samuel Cardilo refused to comment. Cardilo has publicly referred to himself as “The Last Man Standing” in Nike’s subsidiary.
Along with Blockworks Nike, RTFKT Cofounders arrived for comment for Chris Le and Benoit Pagoto. Le’s LinkedIn Show That he left RTFKT and Nike in January 2025, but Pagotto profile Still shows him as employed in Nike and RTFKT.
Last week, art for Clonax RTFKT NFT disappeared overnight due to an issue with its cloudflair hosting scheme for Clonax RTFKT NFT. Cardilo later stated that the issue was due to an error, not an unpaid bill. The art of the collection was later restored. Cloudflare did not respond to the previous request of the blockworks for comments.
On Monday, Cardilo Said Clonex NFTs migrated (Cloudflare) for “permanent storage” for “permanent storage”.
If this case proceeds, it will not only be a class-action suit about the NFT “Galicha Bridge”. Class-action trial against Logan Paul’s cryptozu NFT game Is running Too.
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