"Cryptokicks": What We Know About Nike's Potential Gateway Into Crypto

The news about Nike's "Cryptokicks" trademark was originally broken by Josh Gerben, a trademark attorney in the U.S. who first described the application via Twitter on April 24.

Notably, the corporation's filing mentions crypto wallets, "Downloadable mobile applications for providing access to crypto collectibles, crypto art and application tokens," as well as an online marketplace featuring footwear and clothing as potential use cases.

The document also describes plans for "Providing a digital currency or digital token for use by members of an online community," and enabling transactions to be completed using "Unconventional currency systems," which implies that Nike might integrate cryptocurrencies into its burgeoning online marketing - last month, the company reported its digital business brought in more than $1 billion in quarterly sales for the first time, securing a whopping 36% rise from the same period a year ago.

In the application, Nike also explains how it wants to reserve the "Cryptokicks" name for providing "Online blogs in the field of crypto collectibles" and offering online computer games, such as scavenger hunts, treasure hunts and obstacle courses.

Could it be a mere speculative move to stake a claim in the trademark amid the everlasting crypto hype? Andrew Hinkes, co-founder of Athena Blockchain startup and an adjunct professor at the NYU Stern School of Business and NYU School of Law, suggests that at least something might be brewing in the Nike's offices.

During his analysis of the document, Gerben also explained that the application was made on a "1B" basis, which means Nike has submitted a sworn statement indicating they intend to use the trademark in the near future.

Notably, in the original Twitter thread, a user pointed out to Gerben that the brand "Crypto kicks" has been used by a website selling crypto-themed merch, but the attorney noticed that they were based in the United Kingdom, while Nike is currently applying for a U.S. patent.

Even though "Cryptokicks" seem far from being announced and it is currently unclear whether the USPTO will approve Nike's application at all, some community members are guessing how the footwear giant could implement that concept.

"Nike fans are rabid, and known for tearing through physical stores for rare shoes. It would be crazy / cool to get some branded crypto with every purchase, be able to buy and sell it on exchanges, and be able to redeem it online for rare Nike merchandise," Redditor u/HODL monk wrote.

Cointelegraph has reached out to Nike for further comment, but the company has not returned the request as of press time.