Famous American multinational design company, Nike Inc., on April 19 filed an application to use the word “cryptokicks” as a trademark for a new crypto-related commercial product expected to launch within the next four years.
Nike suggests that ‘cryptokicks’ could be a digital currency used by members of an online community. It could also represent an electronic marketplace for footwear and clothing or a members-only website with features such as a message board.
According to a report by Bizjournal, the Nike application provided two definitions for cryptokicks which offers insight into what product or service the company is eyeing with the trademark.
Further descriptions of the goods and services that could come under the trademark include cryptocurrency hardware and software wallets, managing digital currency exchanges and the like.
Nike Trademark for Crypto Could be a Gamechanger
While Nike is certainly not ready to leak its business plan with the new trademark, the mention of “digital currency” triggers thinking that the company may be eyeing its cryptocurrency or at least launching a crypto-related product.
Commenting on the new application, Trademark attorney, Josh Gerben reportedly said that the filing shows that Nike is serious about establishing a new line of business with the “cryptokicks” trademark.
“There has to be somewhat of a business idea behind it. If you submit things just for the purpose of submitting things, it will tie up the trademark system unnecessarily. Nike does not have a history of filings that are speculative.” he said in the report.
Meanwhile, the attorney confirmed that Nike’s competitors would have at least 30 days to oppose the new trademark application. But if no opposition shows up, and the review process is successful, Nike will secure the right to the “cryptokicks” trademark for the next four years, during which they have to come up with a commercial product or risk losing it.
Meta Also Files Crypto-related Trademarks
Meta Platforms (formerly Facebook) is another major corporate filing that has filed crypto-related trademarks in recent times. Meta notably filed eight trademarks involving the use of cryptocurrencies in the Metaverse. The trademarks filed in March 2022 cover crypto trading and similar activity in a virtual economy such as the one being developed by Meta.
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