Nike is already suing StockX over its NFT service.
Nike is one of the biggest sneaker brands in the entire world, and they take their intellectual property very seriously. For instance, Nike is currently in the midst of suing StockX for allegedly "freeriding” on their brand. Essentially, Nike believes that StockX's Vault NFT service is using the Nike brand in a way that is only generating profits in one direction. Nike is not happy about this, and now, they have even more ammunition for their lawsuit.
According to Bloomberg, over the span of a few months, Nike purchased sneakers from StockX and received four counterfeit models. They say these models even had StockX's signature authenticity hangtag. As a result, Nike wants to make counterfeiting and false advertising a part of their lawsuit.
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“Those four pairs of counterfeit shoes were all purchased within a short two-month period on StockX’s platform, all had affixed to them StockX’s ‘Verified Authentic’ hangtag, and all came with a paper receipt from StockX in the shoe box stating that the condition of the shoes is ‘100% Authentic,’” Nike claims in their suit.
StockX has since commented on this development, stating that numerous Nike employees and executives are using their services to buy and sell shoes. Needless to say, StockX believes Nike needs to take a long look at itself, first.
Stay tuned to HNHH for more updates on this situation.
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