Cryptocurrencies are a way of monetising the completion of complex formulas. Theoretically, just about anything that is currently done in the computer banks of big companies could be a minable task. Any big company could, therefore, benefit from having its own cryptocurrency. This could provide companies with a number of benefits, including decreasing their own infrastructure, increasing security, and more.

For a while now, companies have been guessing which company would make the next big-name cryptocurrency. Disney? Facebook? I haven’t heard Nike thrown around, but they just filed for a trademark.

Everything We Know About Cryptokicks

Earlier this month, the athletic clothing giant filed a trademark application with the United States Patent and Trademark Office. The trademark application is for the word Cryptokicks.

More than that, the patent application tells us a great deal about what Cryptokicks and the associated platform would be capable of. According to the application, Cryptokicks would be a fully functioning cryptocurrency. It could be mined, bought, sold, used in transactions, and based in blockchain.

Cryptockicks would be able to do a lot of other cool things too. The application mentions providing access to crypto-collectibles, crypto-art, and application tokens.

We already know that Nike has a huge fan following. It makes sense that the brand’s loyal consumers would also be using Nike coin. The idea of crypto-collectibles and crypto-art may be a powerful incentive as well. These collectibles wouldn’t just be fun Easter eggs, they may also be able to hold their own value. With blockchain, Nike could prove the scarcity of a crypto-collectible making them valuable digital artefacts.

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The trademark application focuses more on the cryptocurrency aspect than the crypto-collectibles aspect though. As a result, we’re not really sure how a user would collect the items. They may be part of a customer loyalty program or part of a package awarding buyers for preorders.

If You Don’t Care about Nike, Should You Care about Cryptokicks?

Suppose that you aren’t a sneakerhead and don’t really care about Nike. There’s still reason to be excited about Cryptokicks. As mentioned above, no big-name company has launched its own cryptocurrency before. We know that it works on paper but once we have a working proof of principle, the field may explode.

That’s especially true because the idea of crypto-collectibles isn’t really something that has been thrown around so far. Companies like Disney could use a cryptocurrency to render films or support its upcoming streaming service. However, it could have huge appeal if it launched a similar crypto-collectibles program.

The entrance of more cryptocurrencies into the space can only make the concept more approachable and more adoptable.