A well-known manufacturer of sportswear and footwear Nike issued an application for registration of the Cryptokicks trademark, which they describe as a digital currency intended for members of the online community, reports Portland Business Journal.

Also in the company’s application, an electronic trading platform is mentioned, with the help of which it intends to distribute shoes and clothing, and a website for members of the program with a separate forum.

The technical details of Cryptokicks are unknown, but trademark lawyer Josh Gerben believes that Nike should have a serious plan for integrating digital currency into its business.

“Nike is serious about establishing Cryptokicks as a line of business. There has to be somewhat of a business idea behind it,” he said. “If you submit things just for the purpose of submitting things, it will tie up the trademark system unnecessarily. Nike does not have a history of filings that are speculative,” explained Gerben.

Competitors can oppose a Nike application within 30 days. In addition, the United States Patent and Trademark Office will review it. If the agency approves the initiative, Nike will secure the Cryptokicks trademark for 4 years.

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