I think it is a great idea from Nike, but i would not say it will affect crypto industry much.
I believe many companies will follow this strategy, of course if Nike allows them since they patented the idea if i'm correct.
Topic: Cryptokicks- Nike (Read 213 times)
Oh i see, so this would not really affect the crypto industry?
In some ways, it really does. Cryptocurrencies being a scam is still a very common conception from people. Projects like this by huge companies like Nike sure does help give more legitimacy to the industry; regardless if using blockchain was actually necessary for this or not.
Well at least big companies started recognizing the use of Blockchain technology, or crypto assets.
Basically Pmalek has explained it in simple terms.
It's so annoying that big companies like Nike make lots of losses due to copycats counterfeiting their products and what's even more annoying to customers is one trying to spend lots of money thinking they are buying some genuine Nike Air Max shoes only to realize that they are fake.
So using Blockchain as a solution to fight fakes is kinda awesome
Quite right about there. People would spend lots of money just to buy fake nike product but there are also nike products which are cheaper than the original ones and people could save some money and yet the durability is not the same. I like their idea of using blockchain to check such information about a certain product that is bought and who previously owns it. It's so annoying that big companies like Nike make lots of losses due to copycats counterfeiting their products and what's even more annoying to customers is one trying to spend lots of money thinking they are buying some genuine Nike Air Max shoes only to realize that they are fake.
So using Blockchain as a solution to fight fakes is kinda awesome
Doesn't this look to costy for little benefit?
How much people keep trading shoes? I like blockchain but Nike doesn't need all that to prove it is genuine
How much people keep trading shoes? I like blockchain but Nike doesn't need all that to prove it is genuine
The sneaker reselling market is huge. I've seen ridiculously long lines outside sneaker shops before product drops -- people buy up the whole supply to sell to collectors. It's a multi-billion dollar market and it's only getting bigger:
Quote
Like many traders, Johan Aguirre makes a daily check on his holdings’ ups and downs across an electronic spreadsheet.
Aguirre, however, isn’t analyzing stocks, bonds or cryptocurrencies. He specializes in an increasingly tradable asset class — sneakers — on his favorite shoe reseller platform, StockX. Sometimes, he’ll pick up only one pair; at other times, he’ll buy in bulk.
“If it’s a shoe that I know I can sell,” he said, “typically I’ll buy the whole inventory that’s presented to me. And from the moment I know the sizes and the styles and the product code, I list it on StockX and it’s live right away.”
Aguirre, 31, is part of the evolution of the multibillion-dollar worldwide sneaker resale market, which is looking less like a hobby these days and more like an occupation.
Aguirre, however, isn’t analyzing stocks, bonds or cryptocurrencies. He specializes in an increasingly tradable asset class — sneakers — on his favorite shoe reseller platform, StockX. Sometimes, he’ll pick up only one pair; at other times, he’ll buy in bulk.
“If it’s a shoe that I know I can sell,” he said, “typically I’ll buy the whole inventory that’s presented to me. And from the moment I know the sizes and the styles and the product code, I list it on StockX and it’s live right away.”
Aguirre, 31, is part of the evolution of the multibillion-dollar worldwide sneaker resale market, which is looking less like a hobby these days and more like an occupation.
This is all great for Nike -- they immediately sell out their whole stock as soon as it's released.
This whole gimmick will only further solidify their status as collectible items. It's smart business.
How much people keep trading shoes? -
You don't need to ask how much people keep trading shoes.Why? Coz, what NIKE sell is basically consumer psychology. And as you know, people will pay more when a product can fulfill their psychology.
One of those example is Nike Jordan shoes (very extraordinary sale).
`blockchain` words is for marketing gimmick in my opinion. Like this man said: (sorry if i deleted probably words)
Probably 'blockchain' is just marketing gimmic and behind the desk, they run all the nodes, which essentially makes it a centralized database.
It is a way for Nike to fight counterfeit products. Every Cryptokick shoe they make will be cryptographically secured and you will be able to check and verify on the blockchain if the product is genuine and comes from Nike or if it is fake. It also holds information on previous owners. If you buy a pair of genuine Cryptokicks and after a year you sell them to someone else that digital ownership can be transferred to the new owner.
https://thenextweb.com/hardfork/2019/12/10/nike-blockchain-sneakers-cryptokick-patent/
https://thenextweb.com/hardfork/2019/12/10/nike-blockchain-sneakers-cryptokick-patent/
Doesn't this look to costy for little benefit?
How much people keep trading shoes? I like blockchain but Nike doesn't need all that to prove it is genuine
Oh i see, so this would not really affect the crypto industry?
In some ways, it really does. Cryptocurrencies being a scam is still a very common conception from people. Projects like this by huge companies like Nike sure does help give more legitimacy to the industry; regardless if using blockchain was actually necessary for this or not.
Oh i see, so this would not really affect the crypto industry?
By crypto, you mean price-wise? Not really. It's about blockchain and not cryptocurrencies. Unless there are a lot of people who, somehow, believe this will kick-ass Bitcoin to an all-time high just because the mention of the 'blockchain' thing.
They don't actually need a blockchain for this. Since Nike is a trusted authority anyway, this could be done just with cryptographic signatures and a database.
Probably 'blockchain' is just marketing gimmic and behind the desk, they run all the nodes, which essentially makes it a centralized database.
"Blockchain-based sneakers." 
They don't actually need a blockchain for this. Since Nike is a trusted authority anyway, this could be done just with cryptographic signatures and a database.
It is a way for Nike to fight counterfeit products. Every Cryptokick shoe they make will be cryptographically secured and you will be able to check and verify on the blockchain if the product is genuine and comes from Nike or if it is fake. It also holds information on previous owners. If you buy a pair of genuine Cryptokicks and after a year you sell them to someone else that digital ownership can be transferred to the new owner.
https://thenextweb.com/hardfork/2019/12/10/nike-blockchain-sneakers-cryptokick-patent/
https://thenextweb.com/hardfork/2019/12/10/nike-blockchain-sneakers-cryptokick-patent/
They don't actually need a blockchain for this. Since Nike is a trusted authority anyway, this could be done just with cryptographic signatures and a database.
In my opinion, this is a great precedent for the crypto industry. Now you can not be afraid that fake goods will be sold to you.
Now you can track all the movements of the sneakers from the moment of their creation, plus everything you get Nike coins.
No matter how much they cost, it is important that the company uses a real blockchain in its work!
Now you can track all the movements of the sneakers from the moment of their creation, plus everything you get Nike coins.
No matter how much they cost, it is important that the company uses a real blockchain in its work!
Basically Pmalek has explained it in simple terms.
It's so annoying that big companies like Nike make lots of losses due to copycats counterfeiting their products and what's even more annoying to customers is one trying to spend lots of money thinking they are buying some genuine Nike Air Max shoes only to realize that they are fake.
So using Blockchain as a solution to fight fakes is kinda awesome
It's so annoying that big companies like Nike make lots of losses due to copycats counterfeiting their products and what's even more annoying to customers is one trying to spend lots of money thinking they are buying some genuine Nike Air Max shoes only to realize that they are fake.
So using Blockchain as a solution to fight fakes is kinda awesome
Also, what will this mean for crypto industry?
It's a move in the right direction but i don't think it's a big deal thou.Thanks for explanation.
It is a way for Nike to fight counterfeit products. Every Cryptokick shoe they make will be cryptographically secured and you will be able to check and verify on the blockchain if the product is genuine and comes from Nike or if it is fake. It also holds information on previous owners. If you buy a pair of genuine Cryptokicks and after a year you sell them to someone else that digital ownership can be transferred to the new owner.
https://thenextweb.com/hardfork/2019/12/10/nike-blockchain-sneakers-cryptokick-patent/
https://thenextweb.com/hardfork/2019/12/10/nike-blockchain-sneakers-cryptokick-patent/
Oh i see, so this would not really affect the crypto industry?
Basically Pmalek has explained it in simple terms.
It's so annoying that big companies like Nike make lots of losses due to copycats counterfeiting their products and what's even more annoying to customers is one trying to spend lots of money thinking they are buying some genuine Nike Air Max shoes only to realize that they are fake.
So using Blockchain as a solution to fight fakes is kinda awesome
It's so annoying that big companies like Nike make lots of losses due to copycats counterfeiting their products and what's even more annoying to customers is one trying to spend lots of money thinking they are buying some genuine Nike Air Max shoes only to realize that they are fake.
So using Blockchain as a solution to fight fakes is kinda awesome
Also, what will this mean for crypto industry?
It's a move in the right direction but i don't think it's a big deal thou. 
It is a way for Nike to fight counterfeit products. Every Cryptokick shoe they make will be cryptographically secured and you will be able to check and verify on the blockchain if the product is genuine and comes from Nike or if it is fake. It also holds information on previous owners. If you buy a pair of genuine Cryptokicks and after a year you sell them to someone else that digital ownership can be transferred to the new owner.
https://thenextweb.com/hardfork/2019/12/10/nike-blockchain-sneakers-cryptokick-patent/
https://thenextweb.com/hardfork/2019/12/10/nike-blockchain-sneakers-cryptokick-patent/
Hey there
Can someone explain Cryptokicks? Please dumb it down a little as i have been reading news and dont quite understand it.
Also, what will this mean for crypto industry?
Thanks for your time in advance
Can someone explain Cryptokicks? Please dumb it down a little as i have been reading news and dont quite understand it.
Also, what will this mean for crypto industry?
Thanks for your time in advance
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