StockX denies Nike allegations of counterfeit shoes

StockX denies Nike allegations of counterfeit shoes

Sneaker marketplace StockX has denied allegations from Nike

StockX denies Nike’s allegations of counterfeit shoes, NFTs. – Facebook: StockX

“Nike’s suggestion that StockX is a bad actor that intentionally deals in counterfeits and misleads its consumers is not only contradicted by the facts, but by Nike’s own dealings with StockX,” StockX said in a filling on Monday. 

Adding that “In the past, Nike has sought to collaborate with StockX and has communicated confidence in the StockX authentication process.” 

Nike started a legal battle with the sneaker reseller earlier this year when it launched a collection of NFTs based on Nike’s shoes, which the company claimed infringed on trademarks and could confuse customers. The lawsuit also said StockX’s NFTs interfered with Nike’s own NFT plans.

Nike has since added to its lawsuit an amended complaint concerning counterfeit shoes from StockX. Nike claims it placed several orders and received more than one pair of shoes that were not originals. 

“StockX has invested millions of dollars to fight the proliferation of counterfeit products, employing over 300 authenticators across eleven authentication centres.” 

StockX further explained in the amended filing concerning its NFT offering that “StockX Vault NFTs are absolutely not ‘virtual products’ or digital sneakers.” According to the marketplace, each Vault NFT is tied to a physical good and in turn makes the secondary market safer and more efficient for consumers. 

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