Cryptocurrency
Nike’s Surprise Crypto Play Could Steal Facebook’s Thunder via @CCNMarkets
As reported by CCN, “By CCN: In one of the most exciting cryptocurrency developments of the year, clothing behemoth Nike looks poised to dive into the world of crypto. Perhaps buoyed by the strong performance of Bitcoin, the athletic apparel manufacturer filed a trademark to create a digital currency called ‘CryptoKicks.’ “Will Nike beat Facebook’s coin to market […]
As reported by CCN, “By CCN: In one of the most exciting cryptocurrency developments of the year, clothing behemoth Nike looks poised to dive into the world of crypto. Perhaps buoyed by the strong performance of Bitcoin, the athletic apparel manufacturer filed a trademark to create a digital currency called ‘CryptoKicks.’
“Will Nike beat Facebook’s coin to market and steal a bit of thunder from Mark Zuckerberg?
“For blockchain purists, the most compelling aspect of this filing is that CryptoKicks is more than just a new shoe model. Nike appears to be gearing up to launch an actual digital currency.
“With the Bitcoin price back above $5,000, blockchain interest is once again soaring …
“… Facebook’s proposed token has been attracting a lot of attention, but Nike’s CryptoKicks will probably garner even more.
“The world has many crazed collectors of rare shoes – imagine if you have to purchase them in CKs? It would force demand into the token. It’s easy to see tremendous upside for Nike as the community is guaranteed to be there. Facebook lost the support of digital currency users the moment the privacy issues become public; a cryptocurrency token is unlikely to win them back.
“When filing a trademark, you tend to cast a wide net to ensure you don’t get blindsided. Assuming Nike’s plans are as ambitious as they appear, this has all the makings of a genius move. They know they can force guys like DJ Khaled to dump thousands of dollars into CryptoKicks to buy rare collectibles.”