Reading time: ~2 m
Crocs, Inc., a leisure footwear company, filed on Jan. 11 for a trademark that will expand its NFT brand.
Crocs’ irreplaceable tokens “shoes, clothing, bags, accessories and pendants for decoration” will be covered, public documents show. The same goes for software to send, receive and trade these digital assets, as well as an online store to sell them, the USPTO application says.
The filing is a strong sign that Crocs is preparing to release an NFT, one prominent crypto-intellectual property lawyer told CoinDesk. Its legal counsel, WilmerHale, applied on an “intent to use” basis, meaning that the brand has a good faith intention to use it commercially.
Crocs is just about the only shoe brand making the jump to digital wearables, with Nike, Adidas and Under Armor in recent months making shoes play the NFT role. Their releases have generated millions of dollars in revenue from consumers looking to flaunt their digital beats on platforms like The Sandbox and Decentraland.
NFTs could be a lucrative new business for publicly traded Crocs, which had a banner in 2021 with 67% year-on-year revenue growth. The executives talked about the company’s digital focus in their Jan. 11 earnings report, but made no mention of the metaverse.
#Crocs #registers #trademark #NFT