Nike, the world’s most popular footwear and athletic apparel company, is on the verge of making a major splash in the crypto market. The global brand recently filed a trademark application with the United States Patent and Trademark Office that clearly lays out its ambitious vision for entering the crypto-sphere. Based on the type of application they filed, Nike specifically trademarked the term “cryptokicks” and fully intends on using the trademark sooner than later.
What are “cryptokicks”?
Fortunately, we can look further into the trademark application to see that Nike states cryptokicks will not only be a brand, but it will also be a digital currency used by “members of an online community.” That prompts one to ask what the online community members will use these digital tokens for.
It appears that Nike plans on creating their own blockchain that will facilitate financial transactions, bartering, exchange of digital information, and selling products. This blockchain will incorporate things like an online marketplace, e-bulletin boards, games, blogs, a crypto wallet and just about anything else short of gambling online with cryptocurrency. All of these services and outlets will operate under the cryptokick brand.
In the example of an online marketplace, Nike stated that it would be aimed toward buyers and sellers of digital currency assets. In other words, it’s for crypto traders and investors. The company will also have a marketplace for their products that can be purchased by using crypto, most likely through their own coin. Additionally, the Fortune 500 company envisions an interactive community with forums, bulletin boards, and chat rooms dedicated to cultivating a thriving cryptocurrency environment.
Will Nike really create its own crypto coin?
As mentioned, the global athletic apparel powerhouse filed their application with the intention of using their trademark in the near future. This means that Nike has plans to operate a business and provide services with this trademarked brand name. Further analysis of their intentions within the application shows that they do plan on creating a crypto coin as well. Nike clearly states that they plan on “providing a digital currency or digital token” which when translated into layman terms means they’re creating a crypto coin.
In other words, if we are to take Nike’s trademark application seriously, the company does plan on creating its own cryptocurrency, which will have a significant impact on the crypto marketspace.
It should be pointed out that Nike isn’t the first shoe brand to get involved in the crypto industry. Adidas, Nike’s rival, collaborated with VeChain to create shoes for the hit HBO TV series Game of Thrones.
It will be interesting to see if Nike builds its blockchain on an established network or if they build it on their own mainnet. Samsung has been recently rumored to be creating a blockchain on the Ethereum network. The South Korean company is another Fortune 500 powerhouse that sees the significance in the crypto industry.
Let’s just hope that Nike doesn’t create a silly slogan like “just kick it,” for their cryptokick brand.