Nike is exploring the NFT shoe trade, US patent applications reveal

Texas could raise funds through NFT and harness 'abundant' energy to mine Bitcoin

Nike is exploring the NFT shoe trade, US patent applications reveal By Hannah perez

The sporting goods company filed seven applications with the US Patent and Trademark Office that include “downloadable virtual products.” Is Nike ahead of the future ‘metaverse’?


Nike, the popular sportswear and apparel brand, is exploring the tokenization of goods amid growing widespread interest in digital goods and tokens non-expendable (NFT).

According to a report by Bloomberg, in the last weeks, Nike has filed several applications to register its trademark for virtual and digital products. According to the report, the company presented a total of seven applications with the United States Patent and Trademark Office, several of which include “downloadable virtual products“.

The documents suggest that the sporting goods giant may have plans to launch a new digital product brand to go hand in hand with its physical goods. This collection could be represented in NFT form and could also include some of the brand’s most iconic sporting goods, such as its sneakers. Nike air max from the 90’s.

As such, the patent applications include digital items such as hats, glasses, bags, backpacks and sports equipment under the Nike and Jordan brands, with their Swoosh and Jumpman logos and the slogan “Just do it“, according to the report.

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Nike shows interest in digital goods

It should be noted, as noted Bloomberg, that filings are based on intent to use, which means that the patents themselves will not be finalized until Nike make commercial use of them. Meanwhile, the company has not made any formal announcements in this regard.

This is not the first time that the sports brand has filed a patent application related to tokenization in Blockchain. As reported DailyBitcoin, Nike had presented a similar petition in 2019 to generate tokens digital associated with each of your footwear. The presentation at the time suggested that the company could create the NFTs by leveraging the network Ethereum.

Also, that same year, Nike had already submitted another application to register the term “Cryptokicks, although he did not provide details about it. Then his next presentation yielded clues when he mentioned the term again. That document suggests that the word could refer to a token which could well be the digital representation of a shoe or a virtual pet.

The latest request for Nike It comes at a time when virtual goods, including clothing, are generating great interest among consumers around the world. Renowned brands from the sports industry and the fashion industry have been entering the world of NFTs to meet the growing demand.

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For instance, Dolce and Gabbana this year launched an exclusive NFT collection of haute couture fashion that was presented during the shows Alta Moda, Alta Sartoria and Alta Goilleria. Last month, one of the luxury brand’s collectibles editions reached $ 5.7 million in sales.

A metaverse future full of NFT

The news about the possible intention of Nike in the space of digital collectibles based on Blockchain emerges shortly after the social media giant Facebook announce a name change to “Meta”. The change of the platform is related to the plans of Facebook to deploy its own metaverse as part of a vision of the future of the company where all social interactions will take place in a completely virtual 3D environment.

Mark Zuckerberg, CEO of Facebook (now Goal), made the announcement about the brand’s name change last week. He said it represented the “beginning of the next chapter for the Internet “. It should be noted that the term “metaverse”Refers to the convergence of physical, augmented and virtual reality in a shared online space.

In the metaverse, you will be able to do almost anything you can imagine: meet with friends and family, work, learn, play, shop, create.

Plans metaverse of the social media platform includes support for NFT, according to one of its executives. The product manager of metaverse Facebook Vishal Shah said Metaverse companies will be able to sell physical and digital goods, as well as experiences and services; a vision that seems perfectly compatible with the digital product plans of Nike.

Some experts have already anticipated that in the future people will want to have the correlates of their physical belongings in NFT. As our primary form of existence becomes the digital world, digital items will become increasingly important. Within this possible future, people could have clothes, shoes, balls and other products Nike in the form of NFT, and then you can take them to the metaverse of Facebook to show them to friends or even trade them online.

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Recommended reading

Sources: Bloomberg, Decrypt, file

Hannah Estefanía Pérez’s version / DailyBitcoin

Image from Unsplash

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