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Nike joins the crypto-race; files trademark application for CRYPTOKICKS

Arijit Sarkar

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Nike joins the Crypto Race; filed a trademark application for CRYPTOKICKS
Source: Pixabay

As the “crypto winter” enters its dusk, the ecosystem has seen a steep increase in the number of exchanges and newly listed tokens. The main reason for this influx is attributed to the heightened interest of non-financial institutions such as Facebook and Telegram, in the realm of cryptocurrency. Nike is the latest company joining the party after speculations that it’s about to circulate its own cryptocurrency named CRYPTOKICKS.

The news came into to light after a crypto-enthusiast, @JoshGerben, tweeted information related to an interesting filing that Nike made on April 19, 2019. The tweet said,

“The filing indicates that Nike is intending to launch a cryptocurrency called CRYPTOKICKS.”

Source: @JoshGerben

Out of the various services listed within the trademark application, Nike, Inc. focused on “providing a digital currency or digital token for use by members of an on-line community via a global computer network.”

The tweet quickly gained traction, with @TR401 replying,

“It’s only a matter of time. Every large corporation will be involved with crypto one way or the other.”

The application was filed on a “1B” basis, confirming the sports equipment company’s “bonafide intent in using the trademark” in the future. Industry experts speculate that this digital currency may play a vital part in catalyzing loyalty programs for customers across the globe.

Source: @JoshGerben

Late last month, the retail giant filed an intent-to-use trademark application with the U.S. Patent and Trademark Office (“USPTO”) for the word “footware,” which will further help in kick-starting Nike’s smart shoes initiatives.

Adding to the crypto-buzz, prominent players from across industry verticals—including JP Morgan and Samsung, are positioning themselves to go mainstream in the near future.





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XRP

XRP TipBot comes back online after a tiny downtime; Nothing to be worried about, says Wietse Wind

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XRP TipBot goes online after a tiny downtime
Source: Unsplash

XRP TipBot’s website and the corresponding application suffered a downtime on June 23, 2019 for a few hours, during which the application wasn’t showing the balance of users. The website and the API for TipBot instead, displayed a “500 Internal Error.”

A Twitter user, @BlueNETGaming, tweeted Wietse Wind, inquiring the same. Wind confirmed that it was just an “infrastructure blip,” and that there was nothing to be worried about.

Wind tweeted,

XRP TipBot is probably the first and most widely accepted use-case of XRP. It leverages the transaction settling time of XRP Ledger to make tipping easy among peers on Twitter, Reddit, and other platforms, and this was the brainchild of developer Wietse Wind.

After TipBot, a lot of other cryptocurrencies have tried to mimic this idea of facilitating tipping; an example being Bitcoin’s, Tippin.Me which leveraged Lightning Network for tipping users. Although successful, it isn’t as popular as Wind’s TipBot.

The reason behind the same is that XRP Ledger allows transaction settlement in under 5 seconds, which makes tipping fast and efficient, unlike Bitcoin’s transactions which take a few minutes for transactions to be confirmed.

This is same reason why XRP is being used as a liquidity provider for cross-border payments in Ripple’s proprietary product, xRapid.

XRP community is a tightly-knit community with people who are very bullish about XRP’s success. There are equally talented developers in the community who are developing apps that help create more use-cases for XRP.

SchlaubiDev is one such developer known for developing plugins for Gmail and Microsoft Office, plugins that allow a user to send XRP over e-mails.

Ripple has identified Wind and his team’s talent and inducted them into Xpring, which finances them to help develop more community-based apps for increasing XRP use-cases.





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