Nike Patents a System for Tokenizing Shoes on Ethereum's Blockchain

https://cointelegraph.com/news/nike-patents-a-system-for-tokenizing-shoes-on-ethereums-blockchain

by dadarepublic • 7 years ago

2 2 7 years ago

ksaj• 7 years ago

A record that lasts forever, about a product that lasts a season. I'm not sure I get the logic. It must be a buzzword marketing thing.

dadarepublic• 7 years ago

Not a buzzword at all. I actually well understand your doubt on the usefulness of blockchain as I was dubious myself on crypto/blockchain. As I researched NFT (non-fungible token) assets and the concept of the ledger and applications attached to that ledger I realized the potential applications.

A prime example here is addressing counterfeits within the industry. FTA: >“Prospective and current owners [...] may buy and sell digital assets through one or more blockchain ledgers operating on the decentralized computing system. [...] By way of example, and not limitation, a user may buy a new pair of highly sought after sneakers from a verified vendor who may provide authenticated provenance records for the sneakers. [...] After receiving the shoe box containing the purchased sneakers, the user scans the box UPC with a barcode scan feature in a sneakers app operating on the user's smartphone.”

Being able to authenticate a shoe via an app, transfer ownership easily, all very useful in the age reselling via the likes of GOAT, StockX, Grailed, Depop, Ebay etc etc.

Fakes are a huge problem. As a person that buys on the secondary market I would welcome this.

Having a record of shoes I've owned (and let get trashed or use as beaters) - as a collector this is awesome.

Also having shoes that "breed" and then create an opportunity for a new drop? Love it as a consumer (if done well), and totally get it from a business perspective.

Nike Patents a System for Tokenizing Shoes on Ethereum's Blockchain

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