On Christmas Eve 2019, news broke that Nike was issued its patent for a blockchain-compatible sneaker line. The company is calling this revolutionary line the simple and appropriate name CryptoKicks. Of course the patent includes the system of how these sneakers will have digital asset counterparts, the mobile app, and online Marketplace. But the most interesting part of CryptoKicks is sneaker "breeding." We'll get back to that.
There are many advantages to these CryptoKicks. First off, these digital assets are a way to transfer ownership and prove authenticity in the highly competitive sneaker resale market. These digital representations, which exist as non-fungible tokens on a blockchain, can be transferred along with a physical sale sort of like a certificate of authenticity. In the world of sneakers, being able to prove the authenticity of a shoe can't be understated.
Of course, there's the other thing you can do with these tokens. By "breeding" different shoes, these "offspring" supposedly.can become an actual pair of shoes! So, it's not just a game. If you like them, you can actually get them. It's a pretty neat idea just thinking about the combinations you could make. The greatest advantage to this "intermingling" is the new level of engagement users can have with the Nike brand.
Sure, breeding sneakers sounds silly, but the idea that they can be made into actual shoes, too, is very compelling. It sounds silly to a lot of people, but think about all the research and development costs Nike can save! I'm sure Nike is setting some major precedents for other major consumer goods companies to follow. We will certainly be following this development with great interest.
What do you think of CryptoKicks?
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R.A. Rowell is a collectibles enthusiast who comes from a long history of collecting trading cards in both sports and in Trading Card Games. He is passionate about educating the world about the future promise and benefits of digital collectibles, both on the blockchain and off.