This podcast discusses a case study that examines the use of non-fungible tokens (NFTs) by Nike to combat counterfeiting. The authors first describe the large global market for counterfeit goods, including the methods and factors that contribute to its growth. They then introduce Nike's Cryptokick patent, which leverages NFTs to create digital representations of physical shoes, allowing for unique identification and ownership tracking on a blockchain. The study explores how these digital assets can be used to enhance brand engagement and fight counterfeiting, as well as the fast-track patent process Nike used to secure its Cryptokick patent.

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Reference

Mukhopadhyay, Mayukh and Ghosh, Kaushik, A Curious Case of Cryptokick (July 20, 2020). Five Shades of Emerging Business Cases, Eliva Press (Nov 2021), ISBN: 978-1-63648-395-5, Available at SSRN: https://ssrn.com/abstract=3656147 or http://dx.doi.org/10.2139/ssrn.3656147