According to a recent trademark application, Crocs, the American shoe company based in Colorado may be delving 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 filing describes “downloadable virtual goods created with Blockchain technology, smart contracts, in the nature of shoes”
A report from the United States Patent and Trademark Office (USPTO) filed on January 11, 2022 indicates that Crocs has its eye on the non-fungible token (NFT) industry. The Crocs company has been well known for its injection molded foam clogs ever since the company secured exclusive rights to the proprietary foam product called Croslite in 2004.
The USPTO report shows a product that is entirely different from foam clogs. The “registration is intended to cover the categories of downloadable digital media namely, digital assets, digital collectibles, digital tokens, and non-fungible tokens (NFTs),” the Crocs trademark filing notes. It further continues by mentioning things like leveraging blockchain tech and smart contracts in order to showcase Crocs’ products. The filing adds:
[The registration is intended to cover] downloadable virtual goods created with software technology based on blockchain and smart contracts, namely, shoes, clothing, bags, accessories and charms for decorating shoes, clothing, bags and accessories; Downloadable computer software for creating, managing, storing, viewing, sending, receiving, exchanging, validating and selling digital assets, digital collectibles, digital tokens and non fungible (NFT).
In terms of sales, Crocs are not as popular as they once were during the first few years they were introduced and in 2010, TIME magazine added Crocs to the world’s “50 Worst Inventions.” Crocs, however, are still worn by celebrities like Nicki Minaj, Kim Kardashian, and Justin Bieber. While the trademark indicates an interest in securing the rights to NFT-based Crocs’ intellectual property (IP), the company has not mentioned anything about leveraging NFTs in recent times.
Meanwhile, a large number of well-known brands around the world have entered the world of NFTs. Popular brands such as Adidas, Budweiser, Hennessy, Arizona Iced Tea, Samsung, Ubisoft, Konami, Bicycle, Pepsi-Cola, Atari and Delorean.
