In what could be one of the biggest announcements in the cryptosphere so far in 2019, trainer behemoth Nike seem poised to break into the crypto space after filing for a trademark on ‘CryptoKicks.’
The news was announced by Josh Gerben on Twitter. Gerben is the founder of Gerben Law Firm, a trademark law firm which works with clients worldwide.
Gerben tweeted: “Nike has filed for a trademark application for CRYPTOKICKS. The filing indicates that Nike is intending to launch a cryptocurrency called CRYPTOKICKS”.
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
He also uploaded an analysis of the trademark filing. Gerben comments on how the trademark has been filed by Nike Inc. on April 19 2019.
He states that it “appears to be a filing for a brand of a cryptocurrency” which will be “providing a digital currency or digital token for use by members of an online community”.
Any services or goods such as apps or software applications related to the filing would support the idea of a Nike crypto, suggests Gerben.
He continues on to explain that the trademark had been filed on a “1B” basis which means it has been filed with the intent to use the trademark.
“When you file a trademark application you have to indicate whether or not you are actually using it or if you intend to use it in the future”, adds Gerben.
Gerben also illuminates on how Nike submitted a sword statement saying they have a “bona fide” intent to use the trademark in the near future.
It remains to be seen as to what capacity Nike will utilise the CryptoKicks trademark, though if it is used as a unique serial number to trace all products on the blockchain then we could possibly see some kind of non-fungible token angle taken by Nike.
Interested in reading more about trainer and crypto collaborations? Discover how HBO Asia commissioned a trainer designed to create Game of Thrones-inspired Adidas trainers which will feature embedded chips powered by VeChain.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.