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4 Feb 2022

Nike sues Shopping Platform StockX for Illegal Selling of their Shoes in NFTs

The Index Today

Athletics giant Nike filed a lawsuit case in New York on Thursday against the shopping platform StockX for creating and marketing NFTs certificates without Nike’s permission.

The company’s lawyers accused US-based StockX of “minting” NFTs using Nike trademarks and trading on the brand’s “goodwill” to market them.

According to the complaint, StockX is “selling those NFTs at heavily inflated prices to unsuspecting consumers who believe or are likely to believe that those ‘investible digital assets’ (as StockX calls them) are, in fact, authorized by Nike when they are not.”

Nike is seeking damages and a court injunction to force StockX to stop the sales.

©Photo: Cointelegraph

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