Nike Shoe Company Submits Patent And Trademark Document For ‘Cryptokicks’ Digital Currency
Nike Files Trademark Application For ‘Cryptokicks’ Digital Currency
Footwear giant Nike has filed a trademark application in the United States for ‘Cryptokicks’, according to a document filed by the U.S. Patent and Trademark Office on April 19.
The patent filing was first spotted by CoinTelegraph.
Nike’s application gets surprisingly specific about its goals for Cryptokicks and crypto-related applications. The application discusses crypto wallets to hold your Cryptokicks tokens, for example, along with “downloadable mobile applications for providing access to crypto collectibles, crypto art, and application tokens”.
The application also mentions an online marketplace where users can buy or sell footwear and clothing. It seems like Nike may launch a crypto-fueled online marketplace where you can exchange Cryptokicks tokens for real Nike products and services.
Cryptokicks is “A Digital Currency or Digital Token for Use By Members of an Online Ecosystem”
Based on the application, it seems like Cryptokicks will be a digital currency used by Nike app users or other members of the online community. The document mentions plans for “providing a digital currency or digital token for use by members of an online ecosystem”, including transactions that will be completed through “unconventional currency systems”.
Further down the filing document, Nike mentions plans to reserve the Cryptokicks name for “online blogs in the field of crypto collectibles”. Nike also wants to offer online computer games like scavenger hunts where users can hunt for rare crypto tokens.
Trademark attorney Josh Gerben analyzed the filing on Twitter, saying,
“This appears to be a filing for a brand of a cryptocurrency…this is trademark speak for ‘this is a cryptocurrency called Cryptokicks.”
In other words, the patent application covers a range of potential uses for the digital currency, but Nike’s overall goal is to launch a cryptocurrency called Cryptokicks.
Geren also added that Nike’s application was made on a ‘1B’ basis, meaning that Nike has submitted a sworn statement indicating they plan to use the trademark in the close future.
Under the 1B filing, Nike’s competitors have 30 days to launch an objection to the application.
This could indicate that Nike is planning to launch Cryptokicks digital tokens in the very near future.
Over the past few years, Nike’s e-commerce brand has grown substantially. Nike’s ecommerce business is now worth $2 billion, according to the official website. A Nike-backed cryptocurrency could push Nike’s digital empire to the next level. It could encourage current Nike fans and users to get a crypto wallet. It could also encourage current crypto users to sign up for the Nike app.
Nike is one of the world’s largest and most powerful corporations. If Nike launches a cryptocurrency called Cryptokicks, it could be almost as significant as Facebook launching its much-anticipated Facebook Coin.