According to WWD, Nike Inc. The magical “Cryptokicks” patent seems to be taking the footwear experience to a new level. A technology patent for the sportswear company was granted to the U.S. Patent and Trademark Office (U.S. Patent and Trademark Office) on Dec. Patent and Trademark Office approval. The patent uses blockchain technology to track ownership of physical shoes and creates digital versions of shoes purchased by users in cryptocurrency wallets.
This technology can help the secondary market identify counterfeits and provide new direction for future virtual shoe experiences. Digital shoe effect sgrams will be used in transactions and can even be circulated in online scenes such as online games.
Rachel Walsh, a partner in Procter LLP’s intellectual property group, said: “It’s a fine-grained approach to tracking, with both real and virtual worlds. “After a pair of shoes are produced, people can track it to make sure it is not copied and traded in a safer way on the secondary market. ”
A Nike representative would not elaborate on the specifics of the patent, but said in a statement: “We are pleased that our Cryptokicks patent application has been accepted and issued.” We also look forward to exploring more opportunities to serve athletes and consumers in the blockchain space.”
This patent covers the technology for creating and storing shoe ownership. The relevant records will be securely stored in the blockchain. At the same time, consumers can receive a token that can be used to sell their shoes. Tokens can also be stored in consumers’ digital encrypted wallets.
These digital cryptowallets can be connected to a video game network. Consumers can get their game’s virtual characters to wear their Nike virtual shoes.
Blockchain is essentially a distributed network that tracks physical products and the chain of regulation from vendor to buyer. Initially it was associated with cryptocurrencies, but it has gradually been used as a way to track physical ownership and confirm product authenticity, especially in the luxury jewelry sector. For example, Everledger, a British blockchain company, uses blockchain technology to track diamonds, prevent counterfeiting and theft, or verify that a diamond is a conflict diamond (a diamond produced in a war zone, also known as a blood diamond).
Because of its interconnected design, the blockchain structure makes it easy to create, store, and track information records, but outsiders tamper with information without leaving a trace.
U.S. attorney firm Rimon P.C. “Changes (of data in the blockchain) are easy to spot,” says Mark Kaufman, a partner. Each block is bound to the previous block, and cracking takes a lot of time and effort — to change a block, you have to change each block after that. ”
It remains to be seen how the new patent will affect Nike’s competitors. Other companies can apply blockchain technology to their product systems in a similar way, but they cannot apply Nike’s unique way of operating, including Nike’s unique data types stored in the blockchain, and a series of specific steps related to implementing data storage.
Competitors can still use different types of labels and different methods to achieve similar results. In the event of a dispute in the future, both parties may also go to court, where the judge will judge the scope of the patent.
“Patents give exclusive rights,” says Rachel Walsh, “and Nike has asserted ownership when it comes to tracking sneakers simultaneously on both a real and a virtual level.” “