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Nike Patents a System for Tokenized Shoes

11 December 2019 17:34, UTC
Nike Patents a System for Tokenized Shoes

Sports giant Nike has patented shoes with NFT on the Ethereum blockchain; the product is called CryptoKicks. The patent which is dated December 10, describes a digital asset for shoes and how to use it. The implementation is based on the Ethereum token ERC721 or ERC1155, used to authenticate and transfer ownership.

The token is “unlocked” when purchasing the appropriate physical shoe by linking the 10-digit shoe identification code with the owner’s identification code. The system aims to provide a way to ensure the authenticity of the goods, as described in the patent:

“By way of example, and not limitation, a user may buy a new pair of highly sought after sneakers from a verified vendor who may provide authenticated provenance records for the sneakers. [...] After receiving the shoe box containing the purchased sneakers, the user scans the box UPC with a barcode scan feature in a sneakers app operating on the user's smartphone.”

When shoes are sold, ownership of the digital token can be transferred along with the physical product. Tokens can be managed in a special application, which will also help increase brand engagement and trust.

Image courtesy of PYMNTS



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