I just read Nike Inc. v. StockX LLC, a 50-page complaint filed by Nike demanding that StockX (a used shoe seller) destroy all the Nike-branded NFTs it minted. Someone should tell Nike’s lawyers that an NFT is not an image, video, or audio file, but simply an immutable digital receipt of a transaction that references the location of the associated asset(s). Destroying the receipt has no impact on the intellectual property in question any more than throwing out a receipt from the grocery store has an impact on the items you purchased. Continue Reading →