The NFT battle between Nike and StockX

In February, retail giant Nike sued re-seller StockX for launching a non-fungible token based on their shoes.

Last month, the popular re-seller was also accused of selling counterfeit shoes, which contradicts the site’s promise to authenticate its products.

In a court filing, the sneaker re-seller denies the allegations and says Nike’s complaint is “nothing more than a failed attempt to bolster its still meritless claims”.

The NFT series introduced by StockX was intended to allow customers to buy NFTs tied to a physical product.

But StockX trading suggests NFTs would benefit the buyer as they wouldn’t have to wait to resell a shoe.

Of the nine limited edition NFT’s launched, eight were based on Nike shoes.

Nike sued StockX by claiming the NFTs infringed on its trademarks and created confusion for their customers.

StockX is defending its anti-counterfeiting measures and alleges Nike had previously praised them for their measure.

“In the past, Nike has sought to collaborate with StockX and has communicated confidence in the StockX authentication process,” the company said in the draft filing.

Some Twitter users are calling this a marketing ploy from Nike. Meanwhile, others are calling out StockX for reselling shoes with massive markups on sneakers.

The court battle is set to be filed in U.S. District Court in New York City next Monday.

Amanda Gunn contributed to this report