Look where Nike is heading now!
Blockchain technology has never failed to amaze us. After UPS tracking a whole load of steaks, with blockchain here is Nike with its patent for CryptoKicks. This clearly states that a whole new realm completely dependant on the blockchain is not far off.
Supply chain management in blockchain
Supply chain management without blockchain is dangerous. It is threatening enough to drag down a brand to square one.
How do you know that the Nike you recently bought is genuine? What if it were a replica?
Would you still stick to the brand with your loyalty even if it were a forged product?
Not even once. Right?
This is what Nike thought. Now it has come up with a patent for what is called CryptoKicks.
Supply chain management development and CryptoKicks
What does supply chain management have to do with CryptoKicks?
- Nike has now tied a crypto token with the physical shoes that it sells.
- The owner can trackback to the origin of the shoes.
- Also, customers can verify its authenticity and know it is a genuine product.
- The ownership of the tokens and the shoes can be changed when needed.
- Similar to the cat cryptogame, the users can create new offsprings.
- These new models will be created as physical shoes based on Nike’s manufacturing protocols.
More technical details on this now!
These come as NFT on the ethereum blockchain. NFT stands for Non-Fungible Tokens which are not interchangeable with individual specifications and are unique.
Either ERC721 or ERC1155 will be used to verify and transact a physical shoe.
The only way you will unlock the token is by purchasing a shoe with a 10-digit identification code. This code is linked with the owner’s unique identity numbers.
The buy-sell data along with the token details will be stored on an app that represents a typical crypto exchange wallet.
The shoe manufacturing giant also suggests that the token creation is directly connected to the sales.
What are we trying to tell you?
Nike has started doing it. It is already high time that you give your venture a dash of the blockchain. There is no harm in trying to rev up your ROI when there are plenty of chances. Approach a blockchain development company to help you master the technology.
The best blockchain development service!
If you are looking for the best blockchain development service providers, walk right to our office and knock the doors. We await your visit. Let’s get ready to create history.