{"id":2724,"date":"2022-06-06T09:30:55","date_gmt":"2022-06-06T13:30:55","guid":{"rendered":"https:\/\/stockx.com\/about\/?p=2724"},"modified":"2024-11-15T15:52:12","modified_gmt":"2024-11-15T20:52:12","slug":"stockx-statement-on-authentication-program","status":"publish","type":"post","link":"https:\/\/stockx.com\/about\/stockx-statement-on-authentication-program\/","title":{"rendered":"StockX Statement on Authentication Program"},"content":{"rendered":"

Updated as of June 6, 2022<\/strong><\/em><\/p>\n

Authentication is core to our history at StockX, and one of the many reasons the company was founded. While counterfeiting is rampant through other third-party marketplaces, StockX revolutionized the industry by creating a process in which 100% of products on its platform are authenticated by trained human authenticators before they are sent to the buyer. Today, StockX has one of the most \u2013 if not the most \u2013 rigorous authentication processes in the market.<\/span><\/p>\n

StockX has invested millions of dollars to fight the proliferation of counterfeit products, employing over 300 authenticators across eleven authentication centers around the world. Since inception, StockX authenticators have inspected more than 30,000,000 products and prevented $60M in counterfeit sneakers from reaching buyers.<\/span><\/p>\n

In its latest legal filing, Nike\u2019s allegations not only lack any details about the alleged counterfeit shoes it claims to have purchased through the platform, but also contradict Nike\u2019s own past dealings with StockX. Even within the last few years, Nike has sought to collaborate with StockX on authentication efforts and communicated confidence in the StockX authentication process. Despite numerous opportunities to offer feedback or criticisms, at no time in the past did Nike express concerns to StockX about its authentication processes.<\/span><\/p>\n

The timing of Nike\u2019s new allegation is suspicious. Nike alleged that they had counterfeit shoes months before they filed their initial complaint, but only added these claims after their lawsuit against StockX\u2019s Vault NFT failed to gain traction or to win over public sentiment. Like Nike\u2019s initial claims, Nike\u2019s new allegations lack any merit.<\/span><\/p>\n

StockX looks forward to defending its reputation and to understanding why Nike, which once sought to collaborate in combating counterfeits, now seeks to anticompetitively undermine StockX\u2019s business model for making the secondary market safer and more efficient for consumers.<\/span><\/p>\n

Here<\/a> is a link to StockX’s response to Nike.<\/p>\n

——————–<\/strong><\/p>\n

Originally published on May 11, 2022\u00a0<\/strong><\/em><\/p>\n

We take customer protection extremely seriously, and we\u2019ve invested millions to fight the proliferation of counterfeit products that virtually every global marketplace faces today. Nike\u2019s latest filing is not only baseless but also is curious given that their own brand protection team has communicated confidence in our authentication program, and that hundreds of Nike employees \u2013 including current senior executives \u2013 use StockX to buy and sell products. This latest tactic amounts to nothing more than a panicked and desperate attempt to resuscitate its losing legal case against our innovative Vault NFT program that revolutionizes the way that consumers can buy, store, and sell collectibles safely, efficiently, and sustainably. Nike\u2019s challenge has no merit and clearly demonstrates their lack of understanding of the modern marketplace.<\/p>\n","protected":false},"excerpt":{"rendered":"

Updated as of June 6, 2022 Authentication is core to our history at StockX, and one of the many reasons the company was founded. 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