The footgear company, Crocs, chronicled a trademark application, on 11 January 2022, with the U.S. Patent and Trademark Office (USPTO).
The application is notable for ‘downloadable computer software for creating, managing, storing, accessing, sending, receiving, exchanging, validating and selling digital assets, digital collectibles, digital tokens and non-fungible tokens (NFTs).
These days, Non-Fungible Tokens (NFT) seem to be the most spoken about. Every firm, enterprise, even people are getting themselves into NFTs. The most recent addition to this family is the very famous yet often criticized shoe brand, Crocs. The company has filed a trademark application to make use of its name in the virtual space.
A technique of declaring ownership over an item of online content such as videos or pictures, NFTs have been amplifying in fame among both collectors and investors as famous personalities like Martha Stewart and Paris Hilton enter the arena. Some eminent Nfts, like the Bored Ape Yatch Club, could be sold for millions.
The need for Crocs to enter this space
With clothing brands like Nike, Adidas and Under Armour making progressive moves to expand their contribution of NFTs, Crocs did not see a reason as why it shouldn’t be doing the same to keep up with the pace of the fast growing cryptocurrency industry. whilst, Nike bought a company that designs NFTs, Under Armour recently launched one that look like the pair of sneakers worn by the NBA legend, Stephen Curry, in the record breaking match.
In light of these recent events, the trademark filing at the USPTO, Crocs requests the right to use the brand’s name on NFTs of ‘footwear, clothing, bags, accessories and charms for decorating the same’ and on the software needed to create, develop and sell them.
The filing is yet to be reviewed by an inquisitor and could easily be made to obtain rights for the future, its files as ‘intent-to-use’ could imply that the foot apparel brand is likely to start pumping out NFTs quite soon.