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Nike quietly offloads virtual sneaker subsidiary RTFKT

Sportswear giant Nike has sold RTFKT just over a year after it shuttered the virtual sneaker subsidiary. The move comes as the company continues to refocus on its sportswear business under the guidance of chief executive officer, Elliott Hill. Nike confirmed the news in a statement initially issued to The Oregonlive, in which it said the sale,...

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Judge dismisses 25 million dollar NFT lawsuit against Dolce & Gabbana’s US arm

A New York federal judge has dismissed a lawsuit against Dolce & Gabbana USA Inc. that had accused the retailer of abandoning a non-fungible token (NFT) project and failing to deliver on promised benefits. The case was originally filed in May 2024 by Luke Brown and later amended in September. The plaintiff had claimed that both Dolce & Gabbana...

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Business|ANALYSIS

Digital art also has legal limits: Mango condemned for rights infringement in NFTs

The Provincial Court of Barcelona issued an unprecedented ruling in the Spanish legal landscape, condemning the fashion group Mango (Punto Fa, S.L.) for the unauthorised exploitation of works of art in digital format. The ruling, issued by Section 15, specialising in commercial matters, established for the first time in Spain the infringement of...

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Nike faces five million dollar lawsuit over closure of crypto business

Nike is facing a proposed class action lawsuit in regards to the closure of its cryptocurrency business, RTFKT. Plaintiffs in the case are accusing the sportswear giant of leaving them with significant losses after the platform’s shuttering caused demand for their non-fungible tokens (NFTs) to wane. Filed with the Eastern District of New York,...

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Nike Shuts Metaverse Fashion Company Rtfkt: Last Collection in January 2025

Nike is shutting down Rtfkt, its metaverse fashion company known for digital sneakers and NFTs. In January 2025, Rtfkt will release one final collection, Blade Drop . The company itself announced the news via X (formerly Twitter). Summary • Nike is shutting down its metaverse fashion subsidiary, Rtfkt, in January 2025 after a final collection...

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Reju and NFT: The Circular Partnership the Industry Needed

Reju, a leading textile regeneration company, has partnered with Nouvelles Fibres Textiles (NFT), a French pioneer in end-of-life textile recovery. This collaboration aims to establish a complete circular ecosystem for textile waste in France, reflecting a shared vision to revolutionize the textile sector’s approach to waste and sustainability....

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Can blockchain and NFC chips put an end to counterfeiting and idea theft in the fashion industry?

The fashion industry is facing a double threat: a rise in counterfeiting that eats into their profits and a fast-fashion culture that copies designs with impunity. But blockchain offers a glimmer of hope. Or rather, a concrete answer. Blockchain: Tracking a fashion item’s entire journey A blockchain is essentially “a large, public, distributed...

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Mango wins NFT copyright case in Spanish courts

In a significant legal development, Mango emerged victorious in a lawsuit filed by the Spanish copyright society VEGAP for copyright infringement. The lawsuit pertained to the generation of NFTs (Non-Fungible Tokens) based on the artistic creations of three highly regarded Catalan artists which Mango showed in the US. For the opening of a Mango...

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Business|Interview

Chapter 2’s Kenneth Loo on what to expect from fashion tech in 2024

“I can see aspects of how we’re going to implement technology to allow us to fix what I think we can all agree on as those in the fashion industry is a pretty broken system,” Kenneth Loo said in a conversation with FashionUnited on the future possibilities of Web3 and emerging tech. Through such systems, the co-founder and chief executive of the...

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Fashion

Pinko launches digital twins collection

Italian fashion brand Pinko is set to launch 'The New Love Bag Collection,' featuring an authentication system through digital twins. In collaboration with Temera, a company that provides IoT solutions to the fashion industry, a collection of over 630 thousand pieces will use an NFC cryptographic tag for authentication, allowing customers to...

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Web Summit: IWC Schaffhausen on the tokenization of physical products and loyalty

Lisbon - How are efforts in leveraging blockchain, NFTs, and tokenization enhancing customer experiences, building loyalty, and adapting to changing market trends? It is this question that IWC Schaffhausen has attempted to answer through the ongoing integration of new digitally enhanced initiatives at the company. Speaking at tech conference Web...

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Fashion

Nobody’s Child introduces digital product passports

Womenswear brand Nobody’s Child is taking a step towards greater transparency with the launch of digital product passports to empower customers to make more conscious and informed choices. The technology, created by Fabacus, launches today, September 6, with the Nobody’s Child x Happy Place Collection with Fearne Cotton, where each piece will...