Just a couple of years ago, cryptocurrency became immensely popular as Bitcoin continued to raise its value. While crypto is still a mystery to many people, those who are savvy enough to use it have benefitted from the dividends it yields. While cryptocurrencies are typically used by tech companies, it seems as though Nike is trying to change that by developing their own special currency.
According to Sole Collector, Nike has filed a trademark with the U.S. Patent and Trademark Office for the word “cryptokicks.” In the documents that were filed, Nike claims that crypto kicks would be for “financial services, namely, providing a digital currency or digital token for use by members of an online community.” The sportswear brand also says there will be “downloadable mobile applications for providing access to crypto collectibles, crypto art, and application tokens.”
Based on this report, it seems as though Nike is looking to create this currency so that people can buy shoes more easily on their web store and on the SNKRS app. As of right now though, Nike has not revealed any specific plans.
The brand will have to release a product with the “cryptokicks” name within the next four years if they want to retain the rights to the trademark, according to trademark law expert Josh Gerben.