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On December 10 Nike filed a patent to, in essence, “tokenize” Nike shoes. The token is on the Ethereum blockchain and has been referred to as Cryptokicks. The token is basically a digital asset assigned to the Nike footwear.
One of the primary purposes of the token will be to authenticate Nike shoes. Each shoe would be assigned a 10 digit indentification code which will be unlocked upon purchase of the shoe. Counterfeiting has been a huge problem in the high priced sneaker market. Once again, Blockchain may provide a solution.