NFTs are becoming more and more popular and many companies are looking to release their own NFTs, companies like Nike and others.
Now it has been revealed that Nike is suing another company for releasing NFT’s of its products, the company it is suing is StockX, which is a major online reseller platform for selling sneakers, clothing, and much more.
Many of the popular sneakers sold on StockX are Nike sneakers, the company recently started selling NFT’s based on Nike’s products, and Nike has an issue with this. The picture above is of one of the NFTs that StockX are selling of a Nike product.
Last month StockX started to sell NFT’s of Nike products and they told the people buying these NFT’s that they would be able to redeem them for a physical version of the product. To date, StockX has sold over 500 NFTs using the Nike brand.
Nike is not happy with this as it plans to sell its own NFTs and it has now filed a lawsuit against StockX in the USA. Nike is asking for damages for an unspecified amount and it is also looking to block future NFT sales of its products.
This will be an interesting case to watch and the outcome could have an influence on what happens in the future when NFTs are sold.
Image Credit: StockX