Introduction
Nike, one of the world’s most popular sports apparel brands, has filed a patent with the US Patent and Trademark Office for its iconic Swoosh logo to be used in the non-fungible token (NFT) market. This move comes after other luxury brands like Gucci and Louis Vuitton have already made their foray into the NFT space.
Nike’s NFT Swoosh
The patent application filed by Nike includes a digital version of the Swoosh logo that can be used in the NFT market. The patent also includes a blockchain-based system that will enable the creation, exchange, and authentication of these NFT assets. This move by Nike is a clear indication that the company is looking to capitalize on the growing NFT market.
EA Sports Partnership
Nike’s move into the NFT space is further strengthened by its partnership with EA Sports, one of the biggest sports video game developers. The two companies have collaborated to create a limited-edition NFT collection called “CryptoKicks.” These NFTs will be available exclusively on the blockchain-based platform NBA Top Shot.
The Growing NFT Market
The NFT market has been growing rapidly in recent years, with digital art pieces selling for millions of dollars. The market has also expanded beyond art, with music, sports, and even tweets being sold as NFTs. The entry of big brands like Nike into the NFT space is a clear indication that the market is here to stay.
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Conclusion
Nike’s entry into the NFT market with its iconic Swoosh logo is a significant development for the NFT space. The move is a clear indication that big brands are recognizing the potential of the NFT market and are looking to capitalize on it. With the NFT market set to continue its rapid growth, it will be interesting to see how other big brands will enter the space in the coming years.
