Cryptocurrency and sneakers are probably two things you don't think of together. That’s about to change when you see Nike’s new patent for “cryptographically secure digital assets” in their kicks.
Following hot on the heels of Louis Vuitton’s Blockchain ventures, The Swoosh has filed for a patent to attach cryptographically secure digital assets to its physical products. But what does that mean? Well, it's not using your sneakers to make payments. Basically, by adding Blockchain to its sneakers, Nike aims to verify the authenticity and ownership of its products - known as CryptoKicks. They are using Blockchain technology, seen in Cryptocurrencies like Bitcoin, to validate the sneakers authenticity without error or chance of a scam.
“Nike CryptoKicks: The brand’s use of blockchain ensures that the product you buy is genuine and not a counterfeit.” This move against fake Nike products fits perfectly in-line with the brand’s recent move to pull all sales from Amazon. Many speculate that Nike distancing itself from Amazon is due to Amazon’s lack of counterfeit validation and maintenance.
Nike is merging the worlds of cutting-edge technology with its sneakers to ensure their customers get the very best, authentic products possible. Blockchain and sneakers are two things no one thinks of together, unless you’re buying kicks with Bitcoin - which I doubt. But this is a new partnership the world is very interested to see pan out.
Stay tuned for more news on Nike’s CryptoKicks!