“Verification is the new authentication, but our comprehensive approach remains unchanged. While product authenticity remains core to our analysis, our verification process is a better reflection of our broader proposition that we provide customers by reviewing all products sold on StockX,” the company writes in the statement.
StockX further notes that it has reviewed more than 35 million products in just the first nine months of 2022, rejecting 240,000+ products worth more than $70 Million USD. The biggest reasons cited include manufacturing defects (24%) and damaged boxes (20%) with fakes accounting for 14% of rejections.
You may have noticed we updated the name of our verification process, but the work our team does every day to meet our elevated standard of excellence has not changed. https://t.co/voPO0LrbKT pic.twitter.com/sWAn7bfkw5
— StockX (@stockx) November 11, 2022
— Nice Kicks (@nicekicks) November 10, 2022