Nike prepares to explore NFT
On October 27, the sportswear giant filed seven requests with the US Patent and Trademark Office to protect its trademarks in categories such as "downloadable virtual goods" and related services for retail stores and entertainment establishments. This action may be motivated by the growth of non-fungible tokens (NFTs) and the metaverse.
JUST IN: “NIKE filed for new trademark applications for NIKE, JUST DO IT and the swoosh logo.— Watcher.Guru (@WatcherGuru) November 3, 2021
The filings indicate an intent to make and sell NIKE-branded VIRTUAL shoes and clothing.”
NIKE is entering the metaverse 🙌
Source: @JoshGerben pic.twitter.com/D0e4zkvzZH
Digital items featured in the documents include hats, goggles, bags, backpacks and sports equipment from Nike and Jordan with the Swoosh and Jumpman logos and the slogan "Just Do It". All of them have been registered for use on the Internet and in virtual online worlds.
Earlier in 2019 Nike took a similar step, but that time it registered blockchain-compatible sneakers dubbed "CryptoKicks."
How it started. How it’s going.— Michael J. Miraflor (@michaelmiraflor) November 2, 2021
Nike seems determined to not miss out on the metaverse. Cryptokicks patent was filed in 2019. Maybe we finally start to see product from that initiative?
Adidas has a dedicated web3 team. Competition is going to be fun to watch in this category. pic.twitter.com/1uUN0P22Ug
The American company has not officially announced its intention to explore NFTs or launch a cryptocurrency, so patenting all of its products can be seen as a way to protect its brand from the growth of these markets.
However, according to Nike's official website, the company intends to enter the NFT world as it is looking for a virtual material designer in partnership with Material Design.