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So Nike has recently come out saying that Stockx, which is probably one of if not the most popular sneaker reselling websites out there, are selling counterfeit products.
“Nike has ramped up its battle with the online marketplace StockX, saying that it purchased four pairs of counterfeit shoes on the site, despite StockX’s guarantees of authenticity.”Wynne Davis, NPR
When I first heard about this, I was shocked at the boldness from Nike, but in all honesty, I’m not one bit surprised. Having bought from StockX before and people I know have too and on at least one occasion after buying something, I’ve looked at the product with a side eye.
I’m no specialist at telling a real from a fake, I don’t handle Nike shoes every day, but I will say this, the sophistication of some of the counterfeit Nikes that I’ve seen over the years online, even in person has been astounding.
And it’s not just Nike products, Yeezy counterfeits are pretty popular, and I recently saw a statistic saying that more than half of Yeezys out there on the street are probably fake.
So I’m not one bit surprised at what Nike has come out and said here!
“The famous footwear manufacturer was already in a lawsuit from February with StockX over what Nike saw as trademark infringement in the non-fungible tokens StockX was selling, and has amended the suit to include the latest accusations.”Wynne Davis, NPR
That is the part that really interested me. Although they do get ridiculed, in my opinion, NFTs are really going to explode in the next 5 years, and Nike are fully aware of this and what I read from this whole story is that them buying four pairs of shoes from StockX aside, the real message here is that StockX are stepping on Nike’s shoes (pun intended) when it comes to the NFT space.
Nike wants a clear runway, and they don’t want StockX confusing potential customers.
In December 2021, Nike bought the NFT collectibles studio artifact or R.T.F.K.T. and around the same time, Adidas announced a partnership with the Bored Apes Yacht Club.
So Nike fully knows how big NFTs are about to become, and I genuinely think that they want a clear runway.
When it comes to the authenticity of the things you buy off Stockx, it can be really scary. You’re paying A LOT of money, sometimes more than double the retail price of an item and the fact that Nike has come out and basically said that a majority of the stuff on there is likely to be fake raises questions.
They’re going to need to do some proper work to restore trust and maybe address some of the genuine concerns users have had for many years with their authenticity checks.
Personally, often I’m reluctant to use StockX because of this very reason. Not just StockX either, any reselling site. And I would say I’m actually happy that Nike has come out as boldly as this because I’ve heard about the authenticity checks at StockX passing some really iffy looking stuff.
Let me know, do you use Stockx, and will this story put you off using StockX in the future? Let me know in the comments below.