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
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.
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.
Jon Jaehnig is an American freelance writer specializing in Technology and Health. Jon has degrees in Scientific and Technical Communication and Journalism from Michigan Technological University and lives in Michigan’s Upper Peninsula with his wife and cat. For more from Jon, you can follow him on LinkedIn and Twitter.