Nike and StockX have settled Nike’s trademark lawsuit against the popular online reseller for allegedly selling counterfeit shoes and unauthorized digital assets known as NFTs, according to a filing on Friday in New York federal court.
Nike and StockX told the court that they would dismiss the case with prejudice, which means it cannot be refiled. The companies said in a joint statement that they had resolved the case “amicably” on confidential terms.
Nike filed the lawsuit in 2022, alleging that StockX’s NFT images of Nike sneakers infringed its trademarks. NFTs, short for non-fungible tokens, are unique digital assets often used to verify the authenticity of digital art and other internet objects.
Nike argued consumers would likely be confused into thinking that StockX’s NFTs were associated with the shoe giant, which had begun offering its own NFTs earlier that year.
Nike later added claims that StockX sold counterfeit shoes, and argued that the counterfeiting undermined StockX’s argument that the NFTs were part of a process to guarantee its shoes’ authenticity.
StockX denied the allegations and called them “disingenuous.”
U.S. District Judge Valerie Caproni determined in March that StockX was liable for selling 37 pairs of counterfeit shoes. A jury trial on Nike’s remaining claims was scheduled to start in October.
By Blake Brittain
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