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 declared war on fake NFT products.
Watch out for the fake Nike NFT collection
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 wants the sales to be stopped and compensation paid.
StockX, on the other hand, 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. However, it didn’t end well without a copyright agreement with Nike.
Nike does not find it right to make such unauthorized digital sales at very high prices. Nike normally took steps for the metaverse and also bought the NFT startup called RTFKT. The new period will make its moves through this initiative.
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