Tag: StockX

Nike sues shopping platform StockX over sneaker NFTs

SAN FRANCISCO, United States (AFP) – Athletics giant Nike filed a lawsuit in New York on Thursday against shopping platform StockX for creating and marketing NFTs — the tamper-proof digital property certificates — based on the brand’s products without 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. StockX is “selling those NFTs at heavily inflated prices to unsuspecting consumers who believe […]