Cryptocurrencies
Nike Files Trademark Suit Against StockX Over NFTs
Sneakers at the StockX office in Detroit, Michigan.
Photographer: Jeff Kowalsky/AFP/Getty ImagesThis article is for subscribers only.
Nike Inc. accused the sneaker resale marketplace StockX LLC of minting non-fungible tokens that use its trademarks without approval and selling them at inflated prices.
The world’s largest maker of athletic shoes alleged StockX is “blatantly freeriding, almost exclusively, on the back of Nike’s famous trademarks and associated goodwill,” according to a trademark infringement suit filed Thursday in federal court in Manhattan.