Nike, Inc. V. Stockx Llc
Nike has filed a lawsuit against StockX in the United States District Court for the Southern District of New York. The lawsuit alleges that StockX has been using Nike's trademarks without authorization in connection with its entry into the Non-Fungible Token (NFT) market. StockX has been selling Vault NFTs associated with Nike products at heavily inflated prices to unsuspecting consumers who believe or are likely to believe that those "investible digital assets" are authorized by Nike when they are not. Nike seeks a permanent injunction to stop StockX from continuing to sell Vault NFTs bearing Nike's famous marks. The misappropriation of Nike's famous trademarks and goodwill to buoy StockX's entry into the lucrative NFT and digital collectible market deprives Nike of its exclusive right to use its marks in connection with this new commercial medium.
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