Nike to Launch Crypto Called Cryptokicks? Trademark Application Hints Yes
The crypto community has known for a while that Facebook might be issuing its own cryptocurrency. And now, it appears the online behemoth might have a little competition. Reports have surfaced that athletic apparel manufacturer Nike is thinking of doing the same. The Oregon-based company even has a name for its digital currency: cryptokicks.
Nike Cryptokicks Coming Soon?
On April 19, Nike filed a trademark application for 'cryptokicks.' The application said cryptokicks could be used by an online community. The application also describes an electronic marketplace for clothing and footwear. While significant news, it is not, in retrospect, surprising, considering Nike has been trying to increase its digital footprint for the last while or so.
Extensive details about Nike's plans are still unknown; however, submitting a trademark application is a strong indication the company is preparing itself to launch cryptokicks. According to trademark lawyer Josh Gerben, “if you submit things just for the purpose of submitting things, it will tie up the trademark system unnecessarily." Gerben went on to say that "Nike does not have a history of filings that are speculative.”>> Samsung Blockchain? Tech Giant Developing Blockchain NetworkBased on Gerben's thoughts, it looks like Nike launching a cryptocurrency is the real deal. But the reality of that will still depend on whether Nike gets the green light. If it does, the company will have rights over the name, but it will still have to launch a cryptokicks commercial product to get the full trademark, according to sources.