Qualcom Nike Playboy News from Metaverses

Since Facebook announced its Meta, many companies – from start-ups to SMEs and tech giants – have jumped into metaverse-related projects, including Qualcomm, Nike, and Playboy.

Qualcomm invests in metaverse
Nasdaq-listed Qualcomm announced that it is opening Extended Reality (XR) Labs in Europe to develop advanced hand tracking and motion control, 3D mapping and location services, multiplayer experiences, and image recognition.

All are clearly focused on developing technology for use in the metaverse.

Enrico Salvatori, President of Qualcomm Europe, explains:

“The opportunities for the XR are significant. Combine that with rich European R&D and leadership in XR and we see the XR lab in Europe as a huge contributor to XR development worldwide. Brilliant minds are already working rapidly to realize our XR vision and bring revolutionary experiences to everyone from consumers, healthcare and industry. This lab joins our already significant R&D presence in Europe.”

Legal issues for Nike in the metaverse
Metaverse and lawsuits: Nike v. StockX
Streetwear retailer StockX has built a system where users buy NFT which can then be exchanged for physical goods in the real world, including sneakers from the Nike brand, which are now claimed to be infringement, trademark dilution and origin of false designations, among other infringement.

For this reason, the company has filed a lawsuit against StockX. The case is reminiscent of a similar breach involving Hermes, which sued the creators of MetaBirkin.

Playboy relaunches in the metaverse
The historic Playboy magazine has announced that it plans to reboot its digital brand via NFT and beyond. The company is also looking to launch its own digital subscriptions and new villas in the metaverse.

As explained during an interview with CNBC, Playboy wants to drop thousands of avatars in the shape of a bunny (the brand logo) and create a metaverse to keep up with technology.

Nike Files Claims Because of NFT Last Week Against Stockx

Nike finally filed a lawsuit in a New York federal court last week against Stockx, which is an online trading platform. Stockx is being sued for selling NFT or Non-Fungible Tokens using images of Nike shoes.

Quoted from Bitcoin.com, Stockx started selling NFT last month. Some of the NFTs sold use over 500 Nike branded images.

Knowing this, Nike also claims that by printing NFT which is largely based on its popular sneaker design, Stockx has violated and weakened the trademark.

Nike also does not approve or certify NFT with the Nike brand from Stockx. This raises the possibility of confusing consumers. This creates a false association between the product and Nike, and weakens the Nike trademark.

Reviewer overview

Nike Files Claims Because of NFT Last Week Against Stockx - /10

Summary

Nike finally filed a lawsuit in a New York federal court last week against Stockx, which is an online trading platform. Stockx is being sued for selling NFT or Non-Fungible Tokens using images of Nike shoes.

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