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Nike Dipping its Toes into Blockchain?
Apparel Giant Files Patent for "CRYPTOKICKS"
Nike needs little introduction. It is one of the leading brands in the world. They specialize in athletic footware, equipment and apparel. The industry titan has recently applied for a patent & trademark for the term "CRYPTOKICKS". This appears to show a growing interest by institutes and large companies in cryptocurrencies & blockchain technology.
It appears that according to Nike's patent & trademark request, that they are intending to launch a cryptocurrency and wallet. The cryptocurrency might be given to athletes and runners as a form of reward for completing various tasks.
As per the trademark request:
"Provision of online blogs in the field of crypto-collectibles; entertainment services, namely, providing an online computer game; entertainment services, namely, curated scavenger hunts, obstacle courses or treasure hunts"
Other uses of the Nike blockchain and cryptocurrency might be verifying the authenticity of Nike products.
It is important to note that filing a patent or trademark does not necessarily mean that Nike will develop the product. It just reserves their right to do so in the future.
Notable Companies That Adopted Crypto
Nike is not the 1st large company to issue a patent on blockchain technology or cryptocurrencies. Amazon, Mastercard and IBM have done so in the past, without releasing a public product. Some other large companies have released their own coin or token with so-so results. This includes the app Kik, Kodak with Kodakcoin, and Overstock.com's tZERO.
While some companies have had success with blockchain and cryptocurrencies, such as Samsung, others have been a bit out of touch with the crypto community. Samsung is rumored to be releasing its own cryptocurrency in the future.
One thing is certain, the public and institutional interest in blockchain, bitcoin, and cryptocurrencies is far from over.