The crypto community has known for a while that Facebook might be issuing its own cryptocurrency. And now, it appears the online behemoth might have a little competition. Reports have surfaced that athletic apparel manufacturer Nike is thinking of doing the same. The Oregon-based company even has a name for its digital currency: cryptokicks.

Nike Cryptokicks Coming Soon?

On April 19, Nike filed a trademark application for ‘cryptokicks.’ The application said cryptokicks could be used by an online community. The application also describes an elecTron (available on Binance)ic marketplace for clothing and footwear. While significant news, it is not, in retrospect, surprising, considering Nike has been trying to increase its digital footprint for the last while or so.

Nike has filed a trademark application for CRYPTOKICKS.
The filing indicates that Nike is intending to launch a cryptocurrency called CRYPTOKICKS.

Below is my analysis of the filing and its implications 👇#nike#cryptocurrency pic.twitter.com/82gAPlzrXy
— Josh Gerben (@JoshGerben) April 24, 2019

Extensive details about Nike’s plans are still unknown; however, submitting a trademark application is a sTron (available on Binance)g indication the company is preparing itself to launch cryptokicks. According to trademark lawyer Josh Gerben, “if you submit things just for the purpose of submitting things, it will tie up the trademark system unnecessarily.” Gerben went on to say that “Nike does not have a history of filings that are speculative.”