U.S. Authorities Grants Patent to Nike for Blockchain Sneakers

Asia Blockchain Review
December 19, 2019

The U.S. Patent Office granted a patent to Nike for sneakers called ‘CryptoKicks’ that can be authenticated using blockchain technology, after the company filed a request in April 2019.

Introducing Blockchain Authenticated Sneakers

The patent filed by Nike explained that the company has developed a system which relies on blockchain technology in order to place cryptographically secured digital assets to items such as sneakers, according to The Next Web.

The system can therefore store data relating to the ownership of the product as well as check the authenticity of the sports shoes using blockchain.

“When a consumer buys a genuine pair of shoes a digital representation of a show may be generated, linked with the consumer, and assigned a cryptographic token, where the digital shoe and cryptographic token collectively represent a ‘CryptoKick’,” Nike’s patent stated.

If, however, the sneakers are resold to another owner, sellers can transfer the digital asset to the new owner as the tokens are stored in a digital locker — an application that functions in the same way as a crypto wallet.

Nike Offers Option to ‘Breed’ Digital Sneakers 

Meanwhile, the owners of the digital sneakers will be able to create new items from their shoes as the patent added that the owners of ‘CryptoKicks’ can “intermingle or breed the digital shoe with another digital shoe to create ‘shoe offspring’ and have the offspring made as a new, tangible pair of shoes.”

Nike has yet to announce the launch date for their new blockchain-compatible product, so fans will have to wait to try their hand at creating new digital sneakers from these ‘CryptoKicks’.

Source: https://thenextweb.com


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

Related Article
Blockchain Enables Verification of COVID-19 Immunity
Given the virus is not going to disappear in a hurry and we are some time away from vaccinating the ...

November 21, 2020

Illicit Cryptocurrency Activity: A Concern
Market regulators such as SEC has accepted cryptocurrencies as a financial instrument and are consta...

November 20, 2020

IBM Using Blockchain to Help Businesses Reopen during COVID-19
IBM’s healthcare unit, IBM Watson recently announced that they will soon be launching an app to supp...

November 20, 2020

Canadian Pacific Railway Collaborates with TradeLens
Canadian Pacific Railway recently collaborated with TradeLens in a bid to improve its efficacy as an...

November 19, 2020

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us