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Nike has recently become a patent holder for a new and innovative sneakers called ‘CryptoKicks.’ CryptoKicks use blockchain technology to attach digital assets such as cryptocurrency to a material product. They are the up and coming vision for Nike as the popularity of cryptocurrency grows in developed nations.
In addition to storing digital assets, the new sneakers will also make use of blockchain technology to ensure a safety measure to verify the validity of the product and authenticate the product ownership. Upon the purchase of the CryptoKicks from a certified Nike outlet, the customer will receive a digital asset along with the specified identifier of the pair.
The details of the official patent outline that when a consumer purchases a pair of CryptoKicks, a digital representation of a shoe may be generated that would link it to the consumer. It will assign a cryptographic token that will embody the CryptoKick. Due to the scarcity of digital assets already mined out there, the production of sneakers is dependent on several variables and tied to different factors.
When sneakers are sold from the consumer who purchased them to a second buyer, the ownership of the digital assets, and the pair of sneakers, can be transferred as well. The crypo assets that are attached to the sneakers can be stored securely in a “digital wallet” of “digital locker,” a cryptocurrency holder app available of cell phones.
CryptoKicks Can ‘Breed’ with Other CryptoKicks
To make CryptoKicks more attractive for the tech savvy generation, Nike has added additional features that make the new product a lot more interactive and unique. For example, the owners of CryptoKicks can interact with other CryptoKicks owner and ‘breed’ the digital shoes. The result will be a new pair of show ‘offspring’ which will be a different, tangible pair of its own.
The original patent application was first filed way back in April of this year. This means that many users were already familiar with the new features Nike was planning to introduce in their new product. However, to those consumers not following Nike updates regularly, the incorporation of blockchain technology into their sneakers is new and exciting update.
The patent has received approval from the United States patent office which means that CryptoKicks will soon hit the market although no confirmed date for the launch was released yet, and will be seen being used in everyday lives of both crypto and sneakers enthusiasts.