Currently, StockX is facing off against Nike in court over claims related to counterfeit NFTs.

In response to Nike's claims, StockX is taking a stand after the sports giant accused them of selling NFT sneakers that are allegedly counterfeit. response According to StockX's statement, Nike previously expressed trust in their authentication process and even invited the company to contribute to an anti-counterfeiting panel alongside the US Department of Homeland Security, highlighting that there had been no past issues regarding StockX's verification methods.

Another  counter-argument  Detroit-based StockX, a marketplace specializing in exclusive sneakers, launched its Vault NFT collection in January, offering NFTs that represent investment opportunities linked to physical products, which also grant genuine utility to their holders. These Vault NFTs can be exchanged for physical goods or traded digitally.

"Nike's recent charges are baseless and reflect a misunderstanding of the evolving marketplace dynamics. Their actions could be seen as anti-competitive, potentially harming the secondary market and consumers. We are eager to uphold our good name and probe into why Nike, which once collaborated with us to combat counterfeiting, is now attempting to undercut StockX's operational framework,\" stated Scott Cutler, CEO of StockX.

In February, Nike raised concerns about the authenticity of sneaker NFTs obtained via StockX. In May, Nike proceeded to file a lawsuit against StockX, alleging that the NFT sneakers introduced by the marketplace were not genuine, despite StockX's claim of 'verified authentic.' They contended that this NFT collection infringed on their trademark and could confuse consumers. said .

Starting in 2021, Nike ventured into the footwear NFT market, generating substantial profits, while also preparing for its entry into the Metaverse.

As a reseller of streetwear, StockX's legitimacy regarding the sale of other brands' sneakers as NFTs is called into question by this case, highlighting the complex issues surrounding trademark infringement in the NFT resale space.

Nike is teaming up with RTFKT to launch a new line of virtual footwear.

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