In what could be one of the biggest NFT cases to arise so far, Nike has sued resale marketplace StockX for trademark infringement in the Southern District of New York, claiming that StockX is selling NFTs that display Nike’s trademarks without Nike’s permission. In the Complaint, Nike alleges that StockX has infringed nine of its sneaker designs to create a line of NFTs that are part of its collection that StockX has branded the “Vault.” The collection consists entirely of allegedly unauthorized images of Nike sneakers. According to Nike, that’s because StockX is using Nike’s reputation and popularity to increase its sales. Specifically, Nike alleges that “Recognizing firsthand the immense value of Nike’s brands, StockX has chosen to compete in the NFT market not by taking the time to develop its own intellectual property rights, but rather by blatantly freeriding, almost exclusively, on the back of Nike’s famous trademarks and associated goodwill.”
Continue Reading Nike Tries to Stomp Out StockX’s Attempt to Sell NFTs of Nike Sneakers
