The article discusses the recent controversy involving Nike's CloneX RTFKT NFT collection, where over 19,000 NFTs vanished due to unaddressed hosting expenses with Cloudflare. Initially sold for up to millions, the team behind RTFKT chose to downgrade their hosting plan after deciding to cease further NFT drops, resulting in a chaotic situation when the digital images disappeared. This incident highlights the fragility of the NFT market, especially when creators do not maintain infrastructure. Additionally, a related lawsuit against Nike suggests possible ramifications from the collapse of its digital asset venture.
Earlier this month, more than 19,000 NFTs from that collaborative collection went up in smoke. In their stead, black boxes appeared with white text advising viewers that Cloudflare, the web services provider, had taken them down.
Coincidentally, Nike's unilateral move to shut down RTFKT also became the subject of a Brooklyn-based lawsuit right around the time its NFTs went dark - though the two instances don't appear to be directly related.
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