Nike sues StockX for selling unauthorised images of trainers

Nike has sued online reselling platform StockX in federal court in New York for selling unauthorised images of Nike trainers.

The images, which were in the form of non-fungible tokens (NFTs), reportedly infringed Nike’s trademarks and are likely to confuse consumers, the sportswear giant said.

Nike’s lawsuit asked for unspecified money damages and an order blocking their sales.

The Detroit-based StockX was valued at over £2.8 billion last year after a positive year where a number of high profile collaborations were released and then sold for high mark up prices on the platform.

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Nike claimed that StockX last month began selling unauthorised NFTs of its trainers and telling buyers they would be able to redeem the tokens for the physical versions of the shoes “in the near future.”

The complaint referred to over 500 Nike-branded NFTs.

Nike said complaints about the NFTs “inflated prices and murky terms of purchase and ownership” and that the buyers’ concerns over the authenticity of StockX’s model have hurt Nike’s business reputation.

The sportswear brand is planning on releasing a “number of virtual products” later this month in a partnership with RTFKT, which it purchased in December.

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