Nike patents blockchain-based sneakers ‘CryptoKicks’

Share on facebook
Share on google
Share on twitter
Share on linkedin
Time to Read: 2 minutes

Nike has been awarded a patent by the US Patent Office for its blockchain-based sneakers called CryptoKicks. The patent outlines a system whereby blockchain can be used to attach cryptographically secured digital assets to the sneakers.

The US Patent Office had approved the patent filed by Nike for its blockchain-based sneakers. Called CryptoKicks, the patent defines a “system” by which blockchain can be used to attach “cryptographically secured digital assets to a physical product”, in this case – the sneakers.

“Presented are cryptographic digital assets for articles of footwear, methods of making/using such cryptographic digital assets, and decentralized computing systems with blockchain control logic for mining. Intermingling, and exchanging blockchain-enabled digital shoes,” the abstract of the patent reads.

Nike’s platform will also be tracking ownership and verify authenticity of sneakers using the blockchain system it seems.

So, when you buy a pair of these CryptoKicks, you will also receive a digital asset that’s attached to a unique identifier of that shoe. What this effectively means is that there will be a digital scarcity of digital assets as their production is tied to the production of real sneakers.

“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,’” the patent reads.

When it is sold to someone else, the sneakers will transfer ownership by trading both the real shoe and/or the associated digital assets. And these assets can be stored in something called a “Digital Liocker” that is a cryptocurrency wallet app.

Related Article  Hospitals are using Distributed Ledger in the vaccine rollout

Also, according to The Next Web, someone at Nike has been playing ‘CryptoKitties’ – owners of CryptoKicks will be able to “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”.

With the patent being granted, odds are that we can hope to see a pair of CryptoKicks soon-ish.

(Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of www.xtechalpha.com.)

Leave a Reply

RSS Latest Technology News

  • This Nvidia RTX 3080 crypto mining rig was built into a BMW 'just to annoy gamers' January 26, 2021
    Stock issues have plagued the launch of Nvidia's Ampere-powered RTX 3000 series, with high demand and bots buying up stock to resell online at inflated prices. Crypto miners have also been partially responsible for the shortage of next-gen PC gaming ...
  • Take-Two Interactive nails GTA Online cheat site, makes it shut down January 26, 2021
    It was the perfect crime. There was no need to assemble a gang of eleven misfits, comprised of a perfect ratio of heartthrobs and comic relief specialists who would make their colleagues look even more handsome by comparison. A convoluted plan to pull off ...
  • How to play FAU-G, tips and tricks to win the game January 26, 2021
    FAU-G mobile game is available on the Google Play store. If you have been waiting for this “so-called” PUBG Mobile alternative for a long time, head over to the Play Store using your Android smartphone. Ensure to connect your mobile device to a stable WiFi ...

SUBSCRIBE FOR XTECHALPHA NEWS AND RECEIVE WEEKLY UPDATES

Follow Us

Nike patents blockchain-based sneakers ‘CryptoKicks’

by NK Time to Read: 1 min
0
AI Tool to Reshape Treatment by Predicting Cell Behaviors
Get to know the latest updates on exponential technologies, new age industry segments with our weekly XTechalpha Xclusive newsletter straight in your mailbox.