Just weeks after Adidas threw itself into the blockchain world with a limited-edition range of Game of Thrones sneakers, Nike has revealed that it has applied for a trademark for the name “Cryptokicks” in the US. The patent application makes for an exciting read as the footwear and clothing manufacturer plants its first foot into the crypto world. While the details of what Nike is working on is not quite clear, we know for sure it will be an ecosystem where users can buy and sell cryptocurrencies as well as a range of clothes and footwear – presumably in crypto.
A Possible Cryptocurrency on the Cards?
The details are still sketchy, but the trademark application reads very much as if Nike will be creating its own cryptocurrency called “Cryptokicks” as well as an online e-commerce ecosystem. If this is correct, Nike could use its own proprietary cryptocurrency as a form of payment on its store as well as in its popular fitness apps. Trademark lawyer Josh Gerben concurs and very much believes that Nike will be launching its own cryptocurrency. Gerben said:
The application was filed based on what’s called a 1B basis. This means the application was filed on an intent to use the trademark. When you file a trademark application, you have to indicate whether you’re actually using it now or you just intend to use it in the future. So, Nike indicated here that they intend to use the trademark. And when they submitted the application, they did submit a sworn statement saying they had a bona fide intent to use this trademark in the near future. So be on the look-out for your Cryptokicks cryptocurrency from Nike very soon.
Nike has filed a trademark application for CRYPTOKICKS.
The filing indicates that Nike is intending to launch a cryptocurrency called CRYPTOKICKS.
Below is my analysis of the filing and its implications ?#nike#cryptocurrency pic.twitter.com/82gAPlzrXy
— Josh Gerben (@JoshGerben) April 24, 2019
The Nike Crypto Ecosystem
The trademark application is a little longwinded for those not familiar with them, but there are a number of ley takeaways from the application. First of all, Nike is planning some form of forum and messaging service under the Cryptokicks brand. The application states that the brand name will carry out
Electronic bulletin board services; Providing on-line forums for transmission of messages among computer users; Providing on-line chat rooms and electronic bulletin boards for transmission of messages among users in the field of cryptocurrency and digital currency assets; electronic messaging services.
The trademark application hints that Nike will be utilizing the brand name I the long-term future, so we could have to wait a year or so before we find out more juicy details and can play with the platform. Either way, this is a huge move from Nike and it has the potential to bring the crypto world to millions of athletes and fitness enthusiasts around the globe in an instant.
