According to a recent trademark filing, Crocs, the American shoe company based in Colorado, may be diving into the world of non-fungible tokens (NFTs). Since 2004, Crocs has sold 300 million pairs of foam clog shoes, and the application describes a protocol that can manage and store digital collectibles.
Crocs Trademark Application Describes “Downloadable Virtual Goods Created Using Blockchain Technology, Smart Contracts, Like Shoes”
A United States Patent and Trademark Office (USPTO) report filed on January 11, 2022 shows that Crocs is eyeing the non-fungible token (NFT) industry. Crocs is known for its injection molded foam clogs since the company secured exclusive rights to a proprietary foam product called Croslite in 2004.
The USPTO report shows a product completely different from foam blocks. The “registration is intended to cover the categories of downloadable digital media, namely digital assets, digital collectibles, digital tokens and non-fungible tokens (NFTs),” according to the Crocs trademark filing notes. It continues by mentioning things like using blockchain technology and smart contracts to showcase Crocs’ products. The submission adds:
[The registration is intended to cover] Downloadable virtual goods in the nature of footwear, clothing, bags, accessories and tags used to decorate footwear, clothing, bags and accessories created using blockchain-based software technology and smart contracts; downloadable computer software for creating, managing, storing, accessing, sending, receiving, exchanging, validating and selling digital assets, digital collectibles, digital tokens and non-fungible tokens (NFTs).
In terms of sales, Crocs aren’t as popular as they were in the early years of their introduction, and in 2010 TIME magazine added Crocs to the “50 Worst Inventions in the World.” However, Crocs are still worn by celebrities like Nicki Minaj, Kim Kardashian and Justin Bieber. While the brand has indicated an interest in securing the intellectual property (IP) rights of NFT-based Crocs, the company hasn’t mentioned using NFTs recently.
A number of well-known brands from around the world have now entered the world of NFTs. Popular brands like Adidas, Budweiser, Hennessy, Arizona Iced Tea, Samsung, Ubisoft, Konami, Bicycle, Pepsi-Cola, Atari and Delorean.
What do you think of the Crocs NFT trademark filing that was registered on January 11th? Let us know what you think about this topic in the comment section below.
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