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Home » Nike sues StockX for selling more than 500 of the brand’s NFT sneakers without itconsent

Nike sues StockX for selling more than 500 of the brand’s NFT sneakers without itconsent

James by James
February 20, 2022
in NFT News
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Nike sues StockX for selling more than 500 of the brand’s NFT sneakers without itconsent
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The company demands compensation for damage to its reputation but does not name the amount.

  • Nike said that StockX sold the sneaker tokens in January and promised that buyers could exchange them for a real pair, Reuters reported.
  • The company insists it has received complaints about “inflated prices and unclear terms of purchase and ownership” of NFTs and that it has “damaged its business reputation.” Nike accuses StockX of trademark infringement, demands monetary damages and a ban on the sale of NFTs. The amount of claims is not specified.
  • Nike plans to release some virtual objects itself in late February, along with the RTFKT studio, which it bought in December.
  • StockX is an online retailer for reselling sneakers, bags, and clothing. In April 2021, its valuation exceeded $3.8 billion.

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James

James

James is a 33-year-old cryptocurrency enthusiast who has been involved in the industry since 2017. He has always been a keen follower of the crypto space and has experience in trading and mining cryptocurrencies. Since then, James has also written numerous articles on the subject and is passionate about sharing his knowledge and insights with others.

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