Nike is Planning to Launch Its Own Cryptocurrency Cryptokicks
On April 19, the leading manufacturer of sportswear and footwear Nike filed an application for registration of the “Cryptokicks” brand. The document states that the company plans to issue cryptocurrency and provide financial services to owners of new tokens. An employee of the United States Patent and Trademark Office (USPTO), Josh Gerben, reports that if the application for registration the “Cryptokicks” brand is satisfied, Nike will own the trademark for four years. During this time, the company is obliged to release a commercial product in order to retain the right to use the brand. The main question is what products and services Nike plans to provide under a registered trademark. Judging by the information specified in the application, the company will issue a cryptocurrency that is called Cryptokicks. A digital asset will serve as a mean of payment. In addition, under the “Cryptokicks” brand a software for storing virtual currency will be distributed. Nike will create an online trading platform where it will be possible to buy company products for digital assets. According to the application, the company plans to use the trademark to provide financial services. The list includes the following services:
- processing cryptocurrency transactions;
- release of tokens;
- fiat currency exchange for digital assets;
- trading virtual currencies.