TechFlow News — Following Nike's lawsuit against StockX over NFT sneakers in February, StockX has now filed a response with the U.S. District Court for the Southern District of New York. According to a redacted version of the filing disclosed on StockX's website, StockX argues that Nike's claims are unfounded, disregard established trademark law principles, and reflect a fundamental misunderstanding of the various functions NFTs can serve. StockX emphasizes that its Vault NFTs are not "virtual products" or digital sneakers, but rather proof of ownership of physical goods stored in its vault.
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