Popular sneaker maker Nike has started the “licensed NFT” wars by taking an online reseller called StockX to court for trademark infringement or sale of unlicensed nonfungible token (NFT) sneakers. According to a Reuters report, Nike has filed a lawsuit against the reseller in the New York Federal court demanding an undisclosed amount in damages and a halt of sales on such virtual collectibles. StockX reportedly started selling Nike sneaker NFTs in January and promised buyers they can redeem the real-world version of the sneakers in the near future. Nike in its 50-page complaint claimed StockX has sold nearly 500 NFT sneakers with the Nike branding which has dented their reputation and legitimacy. The shoemaker brand also alleged the NFT sneakers were being sold at inflated pri...
HipHopWired Featured Video Source: Nike Basketball / NIke The everyday sneakerhead might still regard the classic Air Jordans are the grails of the sneaker collecting culture, but NBA players seem to be stocking up on Nike Kobe‘s to the point that they’re becoming hard to come by in today’s sneaker game. In a new report by ESPN, the Nike Kobe sneaker line has become so in-demand amongst NBA players these days that they’re having a hard time finding pairs in their sizes. The reasoning behind the scarcity is that Nike’s partnership with Kobe’s estate has come to an end, so production of the sneakers have come to a halt and with though negotiations between the two sides are ongoing there’s not guarantee that they’ll work together again. Because of that, the sneaker line of the NBA legend is a...