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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source: https:\/\/www.theverge.com\/2022\/6\/6\/23156515\/nike-stockx-nfts-counterfeit-sneakers-lawsuit<\/a> Back in February, Nike sued StockX<\/a>, a popular online sneaker reseller, for launching a non-fungible token (NFT) series based on Nike\u2019s shoes. It then accused StockX last month of knowingly selling counterfeits<\/a> \u2014 a thing that shouldn\u2019t be possible since StockX claims it authenticates the shoes sold on its site. Now, StockX is hitting back<\/a>. In a court filing, the sneaker reseller says that Nike\u2019s complaint is \u201cnothing more than a failed attempt to bolster its still meritless claims.\u201d<\/p>\n StockX introduced its Vault NFT series in January. In the company\u2019s own words<\/a>, the idea was to allow customers to buy NFTs tied to a physical product akin to a digital receipt. According to the company, the benefit would be more efficient trading as a buyer wouldn\u2019t have to wait to resell a shoe. Of the nine limited-edition Vault NFT series initially launched, eight were linked to Nike shoes.<\/p>\n When Nike sued, it claimed the NFTs infringed on its trademarks and would be confusing to customers. Then, in an amended complaint<\/a>, Nike said it bought four pairs of counterfeit shoes from December to February. Essentially, Nike is questioning how StockX can use NFTs to authenticate sneakers when it can\u2019t even reliably tell if a sneaker is real or fake. <\/p>\n
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