Nike Files a Patent for Marking Shoes on the Ethereum Blockchain
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Answer Nike Files a Patent for Marking Shoes on the Ethereum Blockchain
Global footwear manufacturer Nike has obtained a patent to mark shoes on the Ethereum blockchain.
According contributor Posted on the US Patent and Trademark Office website and dated December 10, Nike stated that it intends to create unique identifiers and generate “ERC 721” codes for some of the shoes it manufactures.
People can unlock these tokens by purchasing physical shoes and these tokens are then linked to the owner’s unique identifiers to signify ownership.
Besides representing the shoe digitally, the token can also record genetic makeup information for the so-called digital shoe, including specific traits, colours, patterns and backgrounds.
The patent is supposed to allow users to exercise more control over their shoes and their designs.
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For example, the app highlights that owners can set limits on the number of copies of their shoes that can be reproduced and produced.
There are also “surrogacy features” which give others the right to mix shoe designs and some of the parenting features of previous shoes to allow third parties to take care of them.
In addition, the “ownership rights” of a digital shoe are subject to one or more real-world manufacturing restrictions, and ownership rights for each successive generation of the digital shoe may be linked to the true original shoe.
For example: a shoe can be cloned in whole or in part by percentage of genetic contribution, etc. via the encryption key of the virtual product associated with it in the original as stated in the patent.
It’s no surprise that Nike is looking to code the shoes it makes.
In China, Nike saw a 22% quarterly revenue jump in September.
A few limited edition shoes produced by well-known brands are producing quite a buzz.
Earlier this year, “Shenhua“ Chinese news outlets reported that second-hand shoe trading platforms are gaining traction in China, where people can buy limited edition shoes and resell them for the difference.
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So the trendy shoes have already acquired some qualities from stocks and futures.
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