[WASHINGTON] Sneaker big Nike sued on-line reseller StockX in New York federal courtroom on Thursday (Feb 3) for promoting unauthorised photos of Nike sneakers, marking the newest lawsuit over digital belongings often known as non-fungible tokens (NFTs).
Nike mentioned StockX’s NFTs infringe its logos and are prone to confuse customers. Its lawsuit requested for unspecified cash damages and an order blocking their gross sales.
Detroit-based StockX, a platform for reselling sneakers, purses and different items, was valued at greater than US$3.8 billion final 12 months.
A consultant for the corporate didn’t reply to a request for remark, nor did Nike or its attorneys.
Nike mentioned StockX final month started promoting unauthorised NFTs of its sneakers, telling patrons they might have the ability to redeem the tokens for bodily variations of the sneakers “within the close to future”. The grievance mentioned StockX has offered over 500 Nike-branded NFTs.
The lawsuit mentioned complaints concerning the NFTs’ “inflated costs and murky phrases of buy and possession” and patrons’ doubts concerning the legitimacy of StockX’s mannequin have damage Nike’s enterprise popularity.
Nike mentioned it should launch “plenty of digital merchandise” later this month along side the digital artwork studio RTFKT, which it acquired in December.
NFTs have just lately exploded in recognition, and lawsuits over them have begun to hit US courts. Miramax sued director Quentin Tarantino in November over his plans to public sale NFTs associated to the 1994 movie Pulp Fiction, which he directed and the studio distributed.
Final month, Hermes sued artist Mason Rothschild over his “MetaBirkin” NFTs of the French firm’s Birkin baggage. REUTERS