December 12, 2019

CryptoKicks by Nike on the Ethereum Blockchain

It was unexpected news for everyone that Nike introduced the whole world and patent shoes, which will be tokenized as a non-carbohydrate token (NFT) on the Ethereum blockchain, and gave it the name CryptoKicks.

But mainly, you should pay attention to the information specified in the patent for a new product. And there, in turn, it is already said that this new product will be an additional guarantee of the originality of the product from Nike since using this system and a 10-digit identification code for your pair of shoes, you can unlock the “marker.” Also, it is worth noting that when selling each pair of shoes, a digital token can be transferred along with the corresponding physical product.

The creation of tokens can be associated with the sale of shoes, which will also allow you to check the shortage of shoes in circulation. The properties of these tokens will be managed in a specialized application that will also help increase brand engagement.

The inspiration for this project for Nike was the popular game CryptoKitties and given their similarity, and it can be argued about what to breed.

“Using a digital asset, a buyer can safely trade or sell a material pair of shoes, trade or sell digital shoes, store digital shoes in a cryptocurrency wallet or other digital blockchain locker. Mix or “breed” digital shoes with other digital shoes to create “offspring of shoes,” and, based on the rules of acceptable manufacturability of shoes, prepare the recently bred offspring of shoes as a new, tangible pair of shoes.”

Without a doubt, the fact that the faster and more voluminous blockchain technologies are developing, the more chances there are to meet them in collaboration with giants from different industries. Nevertheless, experts warn that this is an industry in which the United States is not in the foreground.

Recent reports show that when it comes to the number of patent applications in the blockchain space, China is adroitly ahead of other countries, including the United States.

Disclaimer

This article is intended as a news item to inform our readers of various events and developments that affect, or that might in the future affect, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and it does not provide, sufficient information to form the basis for an investment decision, and you should not rely on this information for that purpose.

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