Blockchain can be used to attach cryptographically secured digital assets to a physical product, in this case a sports shoe, according to the patent. Furthermore, Nike‘s platform will also track the ownership and verify the authenticity of sneakers using the blockchain-based system.
When a consumer buys a pair of the “CryptoKicks,” he or she will also receive a digital asset attached to a unique identifier of that shoe. If the sneakers are sold to someone else, ownership can be transferred by trading both real shoe and/or associated digital assets. These digital assets can be stored within a ‘Digital Locker’, a cryptocurrency wallet type app.
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