Nike Started To Fight Aginst Fake NFT Sales

Nike, one of the world's leading sportswear brands, started to fight against fake NFT sales.

Brands that strictly protect their name or design rights in the real world now need to follow their rights in the digital world as well. The world-famous sportswear brand Nike has started to fight against fake NFTs. Applying to the New York federal court, Nike claimed that the platform called StockX was selling Nike brand NFT without permission and damaging its image. The firm is demanding that the sales be stopped and compensation paid. StockX is a giant platform with a valuation of $3.8 billion. 500 Nike NFTs have been on sale since January, and those who buy NFTs have the chance to receive the original shoe as a gift as well. Nike argues that such unauthorized digital sales are wrong, and at very high prices. Nike normally took steps for the metaverse and also bought the NFT startup called RTFKT.