The outstanding footwear producer, Nike just received a patent to tokenize shoes on the Ethereum blockchain. The patent described that Nike aims to generate IDs and create ERC721 or ERC1155 tokens on several shoes of its brand.
The tokens can be unlocked with the purchase of corresponding physical shoes and these tokens can then be linked with unique owner IDs to signify ownership. Besides representing a digital shoe, the token can also record the so-called genotype information of a digital shoe, including specific attributes, colours, styles, and backgrounds.
Captivatingly, Nike also suggests that token creation may be linked to shoe sales, which would also allow verification of the scarcity of the shoes in circulation.
The patent also stated that Nike allows ‘breeding rights’ for a digital shoe:
What's Your Reaction?
A keen researcher who believes in enriching her knowledge. For Shuhada, the crypto world intrigues her sense and offers plenty of high delicious 'crypto cuisines'.