Boom! Pau! Nike approved the patent they filed in April 2019. To prevent the patent from being annulled by the retail giant, it is necessary to release the product specified in the patent within 4 years. CryptoKicks is what it is called. And it is about him that we will go further.
What? Why? What is this for?
We carefully reviewed the patent and found out that CryptoKicks is a system and method for providing cryptographically protected digital assets. It will look like a token that includes digital shoes and a unique digital shoe ID. Simply put, sneaker or clothing collectibles in 2D or 3D associated with real clothing or sneakers.
The patent often appears NFT standards ERC-721 and ERC-1155, therefore, we conclude that all this will be in the beginning on the Ethereum blockchain. The possibility of releasing NFT on other platforms is also indicated. The authors of the patent application also refer to materials describing the mechanics of a popular game. CryptoKitties and what’s most interesting, they took the reproduction function from there! You can take 2 digital sneakers with 2 absolutely unique digital DNAs and cross them like in Cryptokitties to get a new unique digital sneaker, which can then be ordered for sewing in reality. This feature is called CollaboKick. At the same time, there is a reservation in the patent that all the same, the set of new sneakers received will be limited. You can’t create yet a completely new design that the developers did not generate in advance. There is a function to limit the ability to reproduce shoes until the token reaches a certain maturity. Roughly speaking, if your sneaker is under six months old, you cannot cross it with another sneaker. So, every token that is tied to a shoe can have digital DNA.
Just imagine the world of some major social network, for example GTA V (I was not mistaken, it was a social network, because many online gaming projects go this way). In which large retailers will rent stores and sell products of well-known brands there and pay for the rental of premises. Considering that NFT stands for a unique digital unit. This means that the product can also end up in these virtual stores. It means that we also need to organize deliveries to these stores, to plan the work of these stores, in connection with which new jobs appear, as a manager of a virtual store in virtual spaces. On the streets of these virtual cities, there will be ads for brands from the offline world. It sounds incredible, but this already exists in small indie projects, but the fact that Nike is taking a step in this direction is a completely different conversation. While this is an experiment and Nike is focusing more on reducing counterfeiting and new marketing opportunities, if the experiment succeeds, then post-retail will come much sooner than we think.
Welcome to the world of post-retail!
All these digital assets or NFTs will be stored in a cryptocurrency wallet and movements will be tracked in the block explorer just like a regular cryptocurrency.
The main purpose of a patent is to protect its products from counterfeiting. The buyer, having scanned the QR code, will be able to get all the information about the manufacturer, about the owners, about the history of resale prices, when, from what it was produced, etc. This is very important for shoe collectors and resellers. You can also add that there are problems in virtual economies. The volume of trade in skins, digital items has already reached billions of dollars, but there are still no world famous brands there. I'm sure they will go there and occupy a niche in post-retail, and Nike may be among the first.
And many more implementations
CryptoKicks can be created for brand promotion purposes. In this embodiment, the NFT can be created in a controlled limited quantity and distributed as part of a promotion, event or competition. For example, spectators in a sports match can receive some specific token dedicated to this event, and then if they need to, order tailoring by design in the token metadata, or simply use it in the digital world.
Another example: A user “hunts” for CryptoKicks in a regular store using the augmented reality (“AR”) function on his smartphone, similar to the popular Pokemon GO game. This method can also be used to purchase tightly restricted products. To buy it you need to complete some kind of quest in reality. For example, to arrive at a designated location or event for a limited time. The first one takes the crosses.
Depending on your activity and interaction with the brand, this will affect the attributes of your CryptoKicks (style, material, uniqueness, etc.) or other rewards from Nike for you.
It will be possible to sell the right to purchase the release goods before the release date. By analogy with the so-called options Crypt.RTM Kick. All actions with CryptoKicks can affect its value.
In sum, such news.
Read also about sneakers on the WAX blockchain.
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