Nike Patents a System for Tokenizing Shoes on Ethereum's Blockchain

Dec 10, 2019😃Bullish

Footwear giant Nike patented shoes that are tokenized as a non-fungible token (NFT) on the Ethereum blockchain, dubbed CryptoKicks.

One implementation of the technology described in the document is an Ethereum ERC721 or ERC1155 token used to authenticate and transact a physical shoe.

When the footwear is sold, ownership of the digital token can be passed on alongside the physical product. The property of those tokens would be managed in a dedicated app, also looking to enhance brand engagement.

The token would be - unlocked - with the purchase of a corresponding physical shoe by linking a 10-digit shoe identification code with the owner identification code.

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