Nike is set to use its market influence to launch its own cryptocurrency, Cryptokicks. The firm is known globally as a shoe manufacturer and its intention to come up its own native coin is no surprise. Already the company has applied for service mark and trademark in the US.

According to the project team, some of the services the firm intents to provide include financial services that its online community will use through a network of computers spread across the globe. However, it is not clear how the coin will be used.

Indications are that it will be used by a closed online community before being rolled out to the larger Nike community. Popularizing the Cryptokicks brand can be easy if they use the channels for the Nike brand.

A few months ago, Nike launched HyperAdapt, a self-lacing trainer brand that users can recharge. The entry into the blockchain space could mean an incentive program where Nike brand users can get rewarded. With a crypto wallet, the incentive program can work pretty well.

Simply put, Nike, through Cryptokicks is designed to create market place for their subscriber base that is using crypto and fiat online. This will tap in to the potential of their clothing and footwear. Blockchain transactions are fast and like the brand, a digital coin will discern their customers.

That’s not all; Cryptokicks will be backed by a wallet and mobile app to increase the reach and global visibility. Any Nike lover and supporter are waiting for the time when their coin of choice is Cryptokicks.