Nike has filed a lawsuit against StockX at a New York federal court, alleging that the online sneaker reseller is using its trademarks without authorization to market and sell non-fungible tokens “at heavily inflated prices to unsuspecting consumers.”
“Nike did not approve of or authorize StockX’s Nike-branded Vault NFTs,” the complaint reads. “Those unsanctioned products are likely to confuse consumers, create a false association between those products and Nike, and dilute Nike’s famous trademarks.”
The lawsuit contains a teaser of what’s to come from the Nike-owned RTFTK, saying it plans to release virtual products from the brand in February.
