Nike Files Trademark Suit Against StockX Over NFT Service (1)

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.

“Without Nike’s authorization or approval, StockX is ‘minting’ NFTs that prominently use Nike’s trademarks, marketing those NFTs using Nike’s goodwill, and selling those NFTs at heavily inflated prices to unsuspecting consumers who believe or are likely to believe ...