Nike said StockX's NFTs infringe its trademarks and are
likely to confuse consumers. Its lawsuit asked for unspecified money damages
and an order blocking their sales.
Detroit-based StockX, a platform for reselling sneakers,
handbags and other goods, was valued at more than $3.8 billion last year.
A representative for the company did not respond to a
request for comment, nor did Nike or its attorneys.
Nike said StockX last month began selling unauthorized NFTs
of its sneakers, telling buyers they would be able to redeem the tokens for
physical versions of the shoes "in the near future."
The complaint said StockX has sold over 500 Nike-branded
NFTs.
The lawsuit said complaints about the NFTs' "inflated
prices and murky terms of purchase and ownership" and buyers' doubts about
the legitimacy of StockX's model have hurt Nike's business reputation.
Nike said it will release "a number of virtual
products" later this month in conjunction with the digital art studio
RTFKT, which it acquired in December.
NFTs have recently exploded in popularity, and lawsuits over
them have begun to hit U.S. courts. Miramax sued director Quentin Tarantino in
November over his plans to auction NFTs related to the 1994 film "Pulp
Fiction," which he directed and the studio distributed.
Last month, Hermes sued artist Mason Rothschild over his
"MetaBirkin" NFTs of the French company's Birkin bags. © Reuters
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