Sneaker giant Nike is suing online retailers for selling non-authorized Nike Schuh-NFTS-featured
Sneaker giant Nike is suing online retailers for selling non-authorized Nike Schuh-NFTS-featured
Nike has filed a lawsuit against an online retailer who uses non-authorized Nike shoe pictures in non-fungable tokens (NFTS). "These unauthorized products will probably confuse consumers, create a false association between these products and Nike and water down the famous brands of Nike," says Nike.
nike sues online retailers for NFT sales
The sneaker giant Nike filed a lawsuit against the online retailer Stockx last week before the Federal Court in New York because he had not sold fungal tokens (NFTS) using non-authorized images of Nike shoes.
The Stockx company based in Detroit, which had a value of more than $ 3.8 billion last year, began selling NFTs last month, explained Nike and added that the reseller had sold over 500 NFTS of the Nike brand.
The sneaker giant also noticed that Stockx informed buyers that they could redeem the tokens "in the near future" against physical versions of the shoes.
nike claims that Stockx violates and watered down by the embossing of "Vault" nfts, which are mainly based on popular Nike guests. According to the complaint:
nike has not approved or authorized the Vault-Nfts from Stockx's brand ... These unauthorized products will probably confuse consumers, create false association between these products and Nike and water them down.
In the lawsuit, it is claimed that complaints about the "excessive prices and opaque buying and ownership conditions" of the Stockx nfts and the doubts of the buyers have damaged the business reputation of Nike.
In the meantime, Nike is preparing to later bring out its own virtual products in collaboration with the digital art studio RTFKT this month in cooperation with the digital art studio RTFKT.
The lawsuit calls for compensation in money and an order that prohibits Stockx to use, sell, sell or advertise its vault nfts that use Nike brands. It also wants the resale marketplace to destroy the non -authorized NFTs.
The number of lawsuits in connection with NFTS is growing. Miramax sued director Quentin Tarantino in November last year for his plans to auction NFTs in connection with the 1994 pulp fiction film. Tarantino directed the film, but the studio distributed him. Last month, the French luxury design company Hermes sued the artist Mason Rothschild because of his "Metkamin" nfts of his Birkin bags.
What do you think of Nike's lawsuit against the reseller for NFT sales? Let us know in the comment area below.
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