Nike To Produce Blockchain-Based Sneakers ‘CryptoKicks’
The ‘US Patent Office’ had passed the patent filed by ‘Nike‘ for its blockchain-based sneakers CryptoKicks, the patent describes a “system” by which blockchain can be used to associate “cryptographically secured digital assets to a physical product,” in this instance – the sneakers.
“Exhibited 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 tracing ownership and check the authenticity of sneakers using the blockchain system it seems. When you purchase a pair of these CryptoKicks, you will also get a digital asset that’s connected to a unique identifier of that shoe.
What this ultimately means is that there will be a digital inadequacy of digital assets as their production is bound to the creation of real sneakers.
“When a customer purchases 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 depict a CryptoKick,'” the patent reads.
When it is traded to someone else, the sneakers will assign ownership by selling both the real shoe and the associated digital assets. And these assets can be put in something called a “Digital Locker,” which is a cryptocurrency wallet app.
According to ‘The Next Web,’ someone at Nike has been playing ‘CryptoKitties,’ buyers of CryptoKicks will be able to “intermingle the digital shoe with some other digital shoe to form ‘shoe offspring’ and have the offspring made as a new, substantive pair of shoes.”
With the patent being granted, the chances are that we can hope to see a pair of CryptoKicks soon.
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