Nike ramps up sneaker NFT lawsuit with StockX

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.