Nike sued, claiming that the NFTs infringed on its trademarks and would confuse buyers. Then, in an amended complaint, Nike stated that it purchased four pairs of counterfeit sneakers between December and February. Nike is basically asking how StockX can utilize NFTs to certify footwear when it can’t even detect if a sneaker is real or phony.
Nike’s portrayal of its authentication method is disputed by StockX. Unlike other resellers, StockX earned a name for itself by promising that every sneaker sold on its website is authentic. According to the petition, each sneaker is hand-inspected and uses “AI-enhanced machine learning technology.” It also mentioned that Nike had previously lauded StockX’s certification procedure and efforts to combat counterfeits.
