Nike and Samsung have big cryptocurrency blockchain plans. It seems like everyone is into blockchain and crypto – from Facebook to the Intercontinental Exchange!
Bitcoin’s recent recovery has made crypto and Bitcoin attractive again – or so we think, as Nike and Samsung are both poised to move into the cryptocurrency industry. Nike filed a trademark to create a digital currency called CryptoKicks.
Nike has filed a trademark application for CRYPTOKICKS.
The filing indicates that Nike is intending to launch a cryptocurrency called CRYPTOKICKS.
Below is my analysis of the filing and its implications 👇#nike#cryptocurrency pic.twitter.com/82gAPlzrXy
— Josh Gerben (@JoshGerben) April 24, 2019
Nike is pursuing CryptoKicks not just as a new name for their shoes, but it seems like Nike is gearing up to launch a digital currency. With Bitcoin over $5,000, blockchain and cryptocurrency interest is soaring. CryptoKicks is not just doing this for the street-cred or fanboys though.
“Financial services, namely, providing a digital currency or digital token for use by members of an online community via a global computer network; facilitation of financial transactions using unconventional currency systems and bartering, namely.”
What we see here is that you could use this cryptocurrency as payment – all revolving around Nike’s brand. From games, collectibles, and rewards for their loyal fans, there is a guaranteed demand for Nike’s digital offering. This stands in stark contrast to Facebook’s cryptocurrency offering – it does not have a guaranteed demand.
Think of the last time that you have heard of an expensive pair of shoes. Chances are they were a pair of Nike’s. When is the last time you heard or saw something of value on Facebook’s offerings?
Facebook also lost support from the digital currency users the moment Facebook’s highly criticized privacy issues became public – a crypto token that is centralized will not win us back.
Nike’s move into crypto represents an opportunity for many companies that want to increase brand interaction – an industry that includes Fashion and Sports apparel.
It’s with this in mind that we shift over to Samsung and their work – continuing to increase their brand loyalty by offering their users something incredibly unique – not just a phone, their S10, with a built-in cryptocurrency wallet, but a cryptocurrency to supplement that phone and user experience.
It’s rumored that Samsung is working on their own blockchain network and it will be called “Samsung Coin”. It is also rumored to be an ERC-20 token, therefore, Ethereum-based.
This bit of news comes from CoinDesk Korea who cites people “familiar with Samsung’s internal situation”.
According to that source, “Currently, we are thinking of private blockchain, though it is not yet confirmed. It could also be [a] public blockchain in the future, but I think it will be a hybrid – that is, a combination of public and private blockchains.”
On top of their own blockchain network, the launch of their own cryptocurrency would be a huge boon to the brand – Samsung Coin could be traded on public cryptocurrency exchanges, and it is likely that Samsung would integrate its blockchain network into its payment app, Samsung Pay.
All of this is good news. It represents renewed interest and confidence in the industry. Where are you? Sitting on the sidelines? Have you given up? Nike and Samsung haven’t. Where will you be? Let us know on our Facebook page!
