Nike sues unlicensed NFT Sneakers seller

Nike has reportedly started the licensed NFT war by suing the online retailer called StockX. This is due to trademark infringement or the sale of unlicensed NFT sneakers.

High prices and strange conditions

Nike has reportedly already filed a lawsuit against online retailer StockX. It is demanded that the sale of the sneakers in question be stopped and that Nike receives compensation.

Since January of this year, StockX has been offering Nike Sneaker NFTs. The promise with this was that they will soon be able to exchange the real version of the sneakers. According to Nike, StockX would sell almost 500 NFT sneakers with this. Given that the NFT sneakers carry the Nike branding, the company’s reputation and legitimacy would have been modified. Nike also accuses the company of selling the NFT sneakers for high prices with very “obscure purchase and ownership terms”.

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Popular Online Reseller

StockX is a popular online reseller worldwide. The company is therefore estimated at approximately $3.8 (€3.31) billion. The collection has been dubbed “The Vault” and is reportedly still available online. The entire collection contains 9 Nike sneakers and concerns NFTs that are linked to their real property.

According to Nike, NFTs can help companies by providing a way to communicate with their customers. However, some players in the market are also trying to take advantage of this, often marketing virtual products from major brands without permission. This makes it possible to illegally generate profit and that is just not allowed. That is why the shoemaker giant is suing the online reseller. It is not yet known what the court’s decision will be.

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