The gloves are off in the legal fight between Nike and StockX, as this week the sneaker giant accused the resale marketp…

The gloves are off in the legal fight between Nike and StockX, as this week the sneaker giant accused the resale marketplace of selling counterfeits. ⁠

Their court battle isn’t about physical fakes, though. It’s about Nike’s efforts to prevent StockX from creating NFTs bearing its trademarks and protecting its IP in the digital world. Brand managers are on alert as web3 opens a new world of virtual goods that could use their marks for various reasons. ⁠

StockX says its NFTs are just meant to track and verify ownership of corresponding physical sneakers it stores for the owners. But while it’s understandable that brands want to protect themselves, their best defense is likely to be a strong offense where they move to take control of the space rather than just shutting others out. If there’s an instructive tale for fashion companies, it’s the rise of mp3s and file sharing in the late 1990s.⁠

Read the full weekly briefing by BoF’s Marc Bain. [Link in bio]⁠

#nfts #nft #meta #metaverse #nike #dunks

(SOURCE) https://www.instagram.com/p/Cdglt7GOmWz

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