Nike has filed a lawsuit against online fashion marketplace StockX, claiming that the company has been selling unauthorized NFTs of its sneakers.

⠀

“Nike did not approve of or authorize StockX’s Nike-branded Vault NFTs,” the lawsuit states. “Those unsanctioned products are likely to confuse consumers, create a false association between those products and Nike, and dilute Nike’s famous trademarks.”

⠀

StockX has sold over 500 Nike-branded “Vault NFTs”, which they promise buyers will be able to redeem for physical versions of the shoes "in the near future."

⠀

Nike is set to release a series of virtual products sometime this month in partnership with digital studio RTFKT, which it acquired in December. Just today on Twitter, RTFKT teased a sneaker vault for its Space Pod holders, so there’s a chance Nike will drop virtual sneakers.

⠀

For more from us at Waivly, join our free fun-to-read and to-the-point newsletter enjoyed by hundreds of people across the internet every day of the week 👇