The settlement resolves a three-year legal matter initiated by Nike in February 2022 regarding StockX’s trademark infringement by selling NFTs linked to its products without permission. With the case now resolved, StockX avoids a jury trial and court risks.
Experts assert that the outcome highlights a shift in the NFT resale market toward authorized digital assets, emphasizing trademark rights as crucial for market stability. The closure of RTFKT further signals the volatility of the NFT sector regarding brand control.
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