{"id":1037071,"date":"2022-02-03T19:47:08","date_gmt":"2022-02-04T01:47:08","guid":{"rendered":"https:\/\/www.snkrsday.com\/?p=1037071"},"modified":"2022-02-03T20:40:41","modified_gmt":"2022-02-04T02:40:41","slug":"nike-sues-stockx-sneaker-nfts","status":"publish","type":"post","link":"https:\/\/www.snkrsday.com\/nike-sues-stockx-sneaker-nfts\/","title":{"rendered":"BREAKING: Nike Sues StockX Over Sneaker NFTs"},"content":{"rendered":"\n<p>Sportswear industry leader Nike sued online reseller StockX today (February 3) in federal court for selling unauthorized images of Nike shoes marking the latest lawsuit over NFTs and digital assets.<\/p>\n\n\n\n<p>Nike&#8217;s claim in their complaint is that <a href=\"https:\/\/www.snkrsday.com\/stockx-nft\/\">StockX&#8217;s Vault NFTs<\/a> infringe on Nike&#8217;s trademarks and are likely to confuse consumers. The lawsuit seeks unspecified damages and a request for injunctive relief blocking the sale of the NFTs.<\/p>\n\n\n\n<p>In the lawsuit, Nike states that StockX began selling unauthorized NFTs of its trademarked sneakers, telling buyers that they would be able to redeem the non-fungible tokens for physical versions of the shoes &#8220;in the near future.&#8221;<\/p>\n\n\n\n<p>To date, and according to StockX&#8217;s public sales data, over 500 Nike branded NFTs have been sold so far with one selling for $7,500.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"543\" onerror=\"this.src='https:\/\/www.snkrsday.com\/files\/2023\/12\/404-dead-image.jpg'\" src=\"https:\/\/www.snkrsday.com\/files\/2022\/02\/nike-stockx-nft-lawsuit.jpg\" alt=\"\" class=\"wp-image-1037077\" srcset=\"https:\/\/www.snkrsday.com\/files\/2022\/02\/nike-stockx-nft-lawsuit.jpg 800w, https:\/\/www.snkrsday.com\/files\/2022\/02\/nike-stockx-nft-lawsuit-737x500.jpg 737w, https:\/\/www.snkrsday.com\/files\/2022\/02\/nike-stockx-nft-lawsuit-325x221.jpg 325w, https:\/\/www.snkrsday.com\/files\/2022\/02\/nike-stockx-nft-lawsuit-768x521.jpg 768w, https:\/\/www.snkrsday.com\/files\/2022\/02\/nike-stockx-nft-lawsuit-200x136.jpg 200w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><figcaption>Nike shoes sold as NFTs on StockX<\/figcaption><\/figure>\n\n\n\n<p>The lawsuit states that complaints about the NFTs&#8217; &#8220;inflated prices and murky terms of purchase and ownership&#8221; and buyers&#8217; doubts about the legitimacy of StockX&#8217;s model have hurt Nike&#8217;s business reputation.<\/p>\n\n\n\n<p>Nike has its own plans for digital goods. In the complaint, Nike said that it will release &#8220;a number of virtual products&#8221; later this month in conjunction with the digital art studio RTFKT, which it acquired in December. In 2019, Nike filed for the trademark for <a href=\"https:\/\/www.snkrsday.com\/nike-cryptokick-blockchain-sneakers\/\">CryptoKicks<\/a> which was the first indication of Nike stepping into the world of digital assets. <\/p>\n\n\n\n<p>StockX was valued at $3.8 billion late last year following their latest round of fundraising and there has been lots of talk and speculation of an IPO to come in 2022.<\/p>\n\n\n\n<p>Representatives for Nike and StockX were not immediately available for comment for this story.<\/p>\n\n\n\n<p>Stay tuned for more updates about this story.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sportswear industry leader Nike sued online reseller StockX today (February 3) in federal court for selling unauthorized images of Nike&hellip;<\/p>\n","protected":false},"author":149,"featured_media":1037091,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[1226835],"cultivate_rss":[],"class_list":{"2":"type-post"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.0 (Yoast SEO v24.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>BREAKING: Nike Sues StockX Over Sneaker NFTs | Snkrs Day<\/title>\n<meta name=\"description\" content=\"Nike has filed a lawsuit against StockX over their sale of the Vault NFT sneakers. They complain that StockX is damaging brand &amp; reputation.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.snkrsday.com\/nike-sues-stockx-sneaker-nfts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BREAKING: Nike Sues StockX Over Sneaker NFTs\" \/>\n<meta property=\"og:description\" content=\"Nike has filed a lawsuit against StockX over their sale of the Vault NFT sneakers. They complain that StockX is damaging brand &amp; reputation.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.snkrsday.com\/nike-sues-stockx-sneaker-nfts\/\" \/>\n<meta property=\"og:site_name\" content=\"Snkrs Day\" \/>\n<meta property=\"article:publisher\" content=\"http:\/\/www.facebook.com\/NiceKicks\" \/>\n<meta property=\"article:author\" content=\"http:\/\/www.facebook.com\/matthalfhill\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-04T01:47:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-02-04T02:40:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.snkrsday.com\/files\/2022\/02\/Air-Mag.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"450\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Matt Halfhill\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@http:\/\/www.twitter.com\/matthalfhill\" \/>\n<meta name=\"twitter:site\" content=\"@snkrsday\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Matt Halfhill\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":[\"WebPage\",\"ItemPage\"],\"@id\":\"https:\/\/www.snkrsday.com\/nike-sues-stockx-sneaker-nfts\/\",\"url\":\"https:\/\/www.snkrsday.com\/nike-sues-stockx-sneaker-nfts\/\",\"name\":\"BREAKING: Nike Sues StockX Over Sneaker NFTs | Snkrs Day\",\"isPartOf\":{\"@id\":\"https:\/\/www.snkrsday.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.snkrsday.com\/nike-sues-stockx-sneaker-nfts\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.snkrsday.com\/nike-sues-stockx-sneaker-nfts\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.snkrsday.com\/files\/2022\/02\/Air-Mag.jpg\",\"datePublished\":\"2022-02-04T01:47:08+00:00\",\"dateModified\":\"2022-02-04T02:40:41+00:00\",\"description\":\"Nike has filed a lawsuit against StockX over their sale of the Vault NFT sneakers. 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