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Nike has finally proven that even blockchain technology can be applied to the footwear industry. The shoemaker has successfully patented blockchain-compatible sneakers that it calls “CryptoKicks,” Hypebeast reported.
When the patent was filed earlier this year, it talked of a system where blockchain technology is used to link a digital asset to a physical product. In Nike’s case, the token or asset will be attached to the “CryptoKicks” sneakers, TNW reported.
“When a consumer buys a genuine pair of shoes a digital representation of a shoe 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 filing stated.
The beauty of the system is that the authenticity of the sneakers can be validated via the blockchain anytime. Verification is easy because each pair of sneakers being produced will be assigned a cryptographic token that’ is unique. This token is then linked to the physical shoes themselves as well as to the person who made the purchase.
In the real world, people will often sell their old shoes and it is possible that a pair of CryptoKicks will eventually change hands someday. To do this transaction seamlessly, the physical sale of the shoes must also have a corresponding sale or transfer of ownership of the digital assets associated with it.
This will be done via the CryptoKicks system which basically keeps track of the ownership of all sneakers produced. To transfer the shoes’ ownership digitally, the seller simply turns over the digital assets associated with the footwear to their new owner.
This is done using a “Digital Locker” app. Actually, it functions basically like a cryptocurrency wallet.
There is another function mentioned in the patent application that reminds one of blockchain-based game CryptoKitties. Surprisingly, “CryptoKicks” owner can experiment a little and “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.” Perhaps it’s just Nike’s way of convincing owners to buy a new pair of sneakers by packaging it as an offspring.
Nike has not yet announced when it will start selling the blockchain-compatible sneakers.
