StockX hits back at Nike in legal battle over NFTs and counterfeit sneakers
Back in February, Nike sued StockX, a popular online sneaker reseller, for launching a non-fungible token (NFT) series based on Nike’s shoes. It then accused StockX last month of knowingly selling counterfeits — a thing that shouldn’t be possible since StockX claims it authenticates the shoes sold on its site. Now, StockX is hitting back. In a court filing, the sneaker reseller says that Nike’s complaint is “nothing more than a failed attempt to bolster its still meritless claims.”
StockX introduced its Vault NFT series in January. In the company’s own words, the idea was to allow customers to buy NFTs tied to a physical product akin to a digital receipt. According to the company, the benefit would be more efficient trading as a buyer...