StockX denies Nike’s accusations that it sells counterfeit sneakers

Sneaker market StockX LLC denied Nike Inc.’s accusation that it’s promoting counterfeit sneakers, saying the platform has one of many strongest authentication processes within the trade and has devoted thousands and thousands of {dollars} to battle the unfold of faux merchandise.

The world’s largest sneaker maker claimed in a February lawsuit that StockX is infringing emblems by way of a service known as Vault NFTS. Nike escalated the battle final month, saying it has bought counterfeit sneakers on the location regardless of guarantees that every little thing bought on the platform is genuine.

StockX fired again on Monday. In a court docket submitting, the corporate mentioned its authenticators use their very own information together with the corporate’s personal synthetic intelligence-based expertise to make sure all merchandise bought on the location are actual. 

Nike’s go well with is “nothing greater than a baseless and deceptive try and intervene with an revolutionary and environment friendly technique to commerce in present tradition,” StockX mentioned. The shoemaker’s allegations “present a basic misunderstanding of the varied capabilities NFTs can serve,” StockX mentioned.

“StockX is not any completely different than main e-commerce retailers and marketplaces who use photographs and descriptions of merchandise to promote bodily sneakers and different items on-line, and which shoppers see (and are usually not confused by) each single day,” StockX mentioned.

“Nike’s go well with threatens the respectable use of NFTs as declare tickets not simply by StockX, however by different innovators that additionally use NFTs to trace title to bodily items held in a vault, akin to tremendous artwork, whiskey, and wine.”

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The case is Nike Inc. v StockX LLC, 22-cv-983, U.S. District Courtroom, Southern District of New York.