Nike (NYSE:NKE), probably the world’s best known sports footwear and apparel company, has filed trademark for “Cryptokicks” and has sparked the interest of the general public whether or not the sports giant is thinking of going into the crypto space.
According to press, it was on April 19th that Nike filed a trademark for the word mark “CRYPTOKICKS” with the US Patent and Trademark Office (USPTO). If granted, the trademark will allow the company to use the mark for plenty of crypto-related products. The registration of the trademark is currently ongoing and live.
The more interesting part, however, is that besides services and goods, Nike can use “Cryptokicks” for cryptocurrency software, as well as tokens, networked IoT devices and more. So the trademark, once granted, can be used by the corporation in multiple ways.
In addition, the company also alludes to a mobile app Nike is developing with an associated coin, as reported by Cryptoslate.
Recently, Nike reported that its digital business arm brought more than $1 billion in quarterly revenue for the very first time in the company’s history. This quarterly sales growth actually represents a 36% rise when compared with the same period sales last year.
Now that the trademark application is live, competitors of Nike will have exactly 30 days to submit counters to the application that will be reviewed by The US Patent and Trademark Office.
If the trademark is granted to Nike, the company will receive legal rights over the name “cryptokicks” for 4 years, but will be obliged to launch a commercial product with the exact same name (cryptokicks) so that the trademark is fully valid and essentially, granted.