The launch of StockX Vault, in which NFT sneakers will be sold and which we talked about a few days ago, seems not to have pleased Nike at all, which has expressly stated that it is against the sale of its models in the form of NFT.
And for violation of individual property rights and violation of the brand, legal litigation was immediately triggered by the Beaverton giant.
But there are other well-founded reasons why Nike has vetoed it, first of all, the price. Let’s take the case of a black and white Nike Dunk sold on average at $ 282. The prices on StockX reach over $ 800 or about two and a half times the original value.
After the acquisition of RTFKT Studios, Nike seems to be willing to launch its virtual products around February. This would certainly go against the initiative already launched by StockX. The request made by the street giant to the marketplace, therefore, is to stop selling THE NFT, to destroy those already put on the market, and repay the damages.