Nike can now focus more on imitations of NFT sneakers, after many have recently appeared. It happened after they recently went to court in the StockX sneakers market to release Nike NFT sneakers.
The infamous Nike and StockX lawsuit
The problem that could scare the metaphors of NFT producers is the case of StockX, which we saw earlier this year. Today, StockX responded by stating that images of Nike sneakers that it sells as unmistakable tokens do not infringe Nike Inc.’s trademarks. He claims that the Oregon-based company has demonstrated a “fundamental misunderstanding” with the NFT by suing the company last month.
StockX has released its NFT ‘StockX Vault’, which shows the NFT version of the sneakers that comes with the physical version. Despite the ongoing litigation between the two parties, they are still on the platform.
Some Metaverse sneakers may be a must
Manufacturers of other metaverse sneakers may need to be careful. With their enormous budgets that can be used for litigation, companies can be completely destroyed if they get a lawsuit from Nike and are forced to pay.
Most companies only need to be careful when describing Nike sneakers, not just ‘unmarked’ ones. Non-branded metaverse sneakers should be fine if Nike is looking for people to chase if they don’t see them copying the design or colors of Nike, for example. When buying RTFKT Studios, we should see two companies testing and releasing Nike-based NFT sneakers with experience in the studio space.
NFT sneakers seem to be another big thing, with the rise in popularity in metaverse and NFT fashion. So many companies need to grow and try to take advantage of the next big trend.
Last year, Complex discussed whether the NFT sneakers were “real” or “just a scam.” You can watch the whole video here.