Nike cries foul over virtual shoes, suing retailer selling sneaker NFTs


Nike says StockX’s NFT’s are likely to confuse consumers. The lawsuit was filed in federal court in new york federal court on Tuesday. The shoe giant has sued StockX for violating its trademarks.

A lawsuit asks for unspecified money damages and a blockade of sales. StockX is a platform for reselling sneakers, handbags and other goods. It was valued at more than US$3Eight billion of S$5 last year.

Nike StockX has begun selling illegal NFT’s of its sneakers. They will sell them to buy physical ones soon. Neither their lawyers nor their lawyers have responded to our request for comment. StockX claims to have sold more than 500 Nike NFTs.

The lawsuit claims inflated prices overcast terms of purchase and ownership. It also claims that it acquired the digital art studio in December. There seem to be more lawsuits hitting US courts.

Bob Greene: NFT’s are very popular. He says they’re becoming more popular. Lawsuits seem to be hitting courts in the USA; more and more people are suing NFT’s, Greene says.

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