First Facebook, now Nike?
The clothing giant has taken its first steps in the metaverse. The Oregon-based company filed several new trademarks this week that indicate its intention to manufacture and sell Nike-branded virtual sneakers and apparel.
According to the US Patent and Trademark Office, on October 27, Nike filed applications for Nike, the brand’s famous Just Do It slogan and its swoosh logo. The next day, two more applications were filed for the Air Jordan and Jumpman logos. A total of seven different applications were submitted.
“Nike is protecting its trademarks for this new era,” he said. Josh Gerben, a trademark attorney.
The company did not immediately respond to requests for comment on future plans. However, people familiar with its strategy say this space is a priority for the brand, and consumers can expect more virtual deployments in the coming months.
In addition to requests for trademark registrations, Nike is also looking for employees in this space. According to a Nike Job Search, the company recently posted job openings for virtual shoe designer other virtual design roles. The job listings released on October 23 said that “this role belongs to the Digital Product Group, a team focused on driving the digital and virtual revolution at Nike.”
Trademark filings “will clearly be a hint of the idea of a metaverse,” Gerben said. “They are filing new applications for the company’s major brands, saying they are going to launch and sell virtual apparel, hats, shoes in the online and virtual world.”
The new trademarks also provide additional protection to Nike in case others try to use the brand without a license, Gerben said.
“If you want to control your trademarks in this world, it will be easier if you only own the registration for virtual goods,” he said. Gerben said filing for trademark registrations would also add value to the overall portfolio of brands, as trademarks are a form of ownership.
“You can imagine the value a Nike name or logo would have if you were just selling, so the more protection you build into your trademarks, perhaps the more value you add to the company’s book value,” he added.
This isn’t the brand’s first foray into the virtual world. In May 2019, Jordan partnered with Fortnitewhere the characters wore sneakers with the Nike logo. Nike has also partnered with an online gaming platform on several occasions. Roblox.
The company is still awaiting a patent filed in April 2019 for Cryptokicks, which Nike plans to use as an immutable token.
As Nike prepares to enter the virtual world, more recently its physical world has been impacted by supply chain problems. In its latest income statement on September 23, the company lowered its FY2022 forecast to account for longer delivery times, labor shortages and extended production stops in Vietnam.
Nike stock is up 18% since the beginning of the year, bringing its market value to over $ 265 billion.