Nike Sues StockX Over Latest NFTs
It’s been less than a month since we first covered online sneakerhead and hypebeast cultural hub StockX and their first formal foray into NFTs, with the ‘StockX Vault.’ In an effort to seemingly tokenize their physical assets, StockX sought a new way to recognize ownership – but what that truly means and how StockX would […]
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Nike has filed a lawsuit against an online reseller using unauthorized Nike shoe images in non-fungible tokens (NFTs). “Those unsanctioned products are likely to confuse consumers, create a false association between those products and Nike, and dilute Nike’s famous trademarks,” Nike alleges. Nike Sues Online Retailer Over NFT Sales Sneaker giant Nike filed a lawsuit against online reseller Stockx in New York federal court last week for selling non-fungible tokens (NFTs) using unauthorized images of Nike shoes. Detroit-based Stockx, valued at more than $3.8 billion....
StockX is an online reseller estimated to be worth $3.8 billion, and NFT sneakers in dispute are still online. Popular sneaker maker Nike has started the "licensed NFT" wars by taking an online reseller called StockX to court for trademark infringement or sale of unlicensed nonfungible token (NFT) sneakers.According to a Reuters report, Nike has filed a lawsuit against the reseller in the New York Federal court demanding an undisclosed amount in damages and a halt of sales on such virtual collectibles. StockX reportedly started selling Nike sneaker NFTs in January and promised buyers they....
StockX has been a pillar in online hype wear and the latest sports, urban and street fashion for quite some time, and now, they plan to take it even further with a new NFT launch designed around tying physical products and NFTs together. In recent days, StockX announced on their website and via Twitter that […]
Nike, the American multinational footwear and sports apparel giant, is getting ready to step into the metaverse and the world of non-fungible token (NFT) technology. Reports show Nike has a few employees “thinking about the metaverse” and a 2019 patent for “cryptokicks” indicates Nike has been preparing to use NFTs for quite some time.
Nike’s Well-Known Trademarks and ‘Downloadable Virtual Goods’
Several reports indicate that Nike (NYSE:NKE) is getting ready to step into the non-fungible technology realm and the footwear....
Nike intends to sell you digital products in the Metaverse, and you will buy them because Nike knows how to make you want them. Look at your feet. A lot of you (raises hand) are wearing Nikes right now. For the fiscal year ending May 31, 2021, Nike reported its revenue was up 19% to $44.5 billion for the year. But that’s here. What about in the Metaverse?Why Nike is interested in the MetaverseFor those as of yet unfamiliar with the concept, the easiest — yet very incomplete — way of imagining the Metaverse is imagining yourself existing in a real-life video game. Nike enters and provides....