Representative image 
Business

Nike ramps up sneaker NFT lawsuit with StockX

Nike said in a proposed amended complaint that it recently bought counterfeit shoes via StockX despite the platform’s claims its NFTs are part of a process to guarantee its shoes’ authenticity.

DTNEXT Bureau

NEW YORK: Nike Inc told a Manhattan federal court that online reseller StockX LLC has been offering counterfeits of its shoes, building on its existing lawsuit accusing StockX of violating its trademarks by selling digital images of Nike shoes in the form of non-fungible tokens, or NFTs. Nike said in a proposed amended complaint that it recently bought counterfeit shoes via StockX despite the platform’s claims its NFTs are part of a process to guarantee its shoes’ authenticity. StockX fired back at the shoe giant in a statement on Wednesday, calling the filing “baseless” and accusing Nike of “panicked and desperate” tactics.

Visit news.dtnext.in to explore our interactive epaper!

Download the DT Next app for more exciting features!

Click here for iOS

Click here for Android

DT Next reporter wins Ramnath Goenka Excellence in Journalism Award

DT Next Constituency Watch | Tambaram: Growth outpaces civic basics as residents seek accountability

Serious liver damage hits one in four with type 2 diabetes, reveals study

Chennai: A shelter for transwomen to live with dignity, independence

Chennai: Royapuram station continues to languish in neglect