First, it was Nike and StockX filing for trademarks in the NFT space. Now, it’s Crocs. On January 11, Crocs filed for a registration that covers digital collectibles and assets under the Crocs company. The future is unfolding right in front of our eyes, keep reading to learn what we’re actually looking at.
What Did Crocs Do?
Essentially, Crocs trademarked the use of their products and logos on NFTs. What does that mean?
If someone decided to create an NFT that included Crocs, they would be sued and probably forced to remove that NFT from the internet. For proof of this exact situation happening, look no further to Nike’s big lawsuit with StockX.
When companies file this sort of trademark, it means they’re planning to have a presence in the Metaverse space. Crocs have already released a Metaverse project in collaboration with EGONLAB on January 18th.
As far as what we can expect Crocs to release, it’s unclear. Obviously, NFTs of actual Crocs are the first thing that comes to mind, and that will certainly play a massive role. But beyond that, it’s up to Crocs.
Personalizing Crocs is a big reason for the brands’ success and possibly could be a reason for their potential success in the Metaverse. We will just have to wait and find out.
The EGONLAB x Crocs NFT Poster:
What Should I Look Out For?
Since their EGONLAB collaboration, Crocs has not announced anything new in terms of NFTs yet.
What’s important to keep in mind is that companies are just as new to this space as consumers are, so they have to be careful. They do not want to risk saturating the market with their products if it means they will be less successful.
Instead, companies like Crocs and even Nike are waiting around to see how things play out before they make their big moves. Crocs, like many other companies, has had huge success in the physical retail space, having sold over 700 million pairs to date.
In terms of reselling, Crocs hasn’t been the hottest brand but that doesn’t mean there aren’t a few gems! Check out these articles for how Crocs has proven themselves as a reselling possibility!
So, What Does This Mean?
What this means is if you haven’t noticed, brands are waking up. Nike, StockX, Crocs, Gucci, and hundreds more have been filing for trademarks and putting out preliminary NFT collections.
Will physical reselling die anytime soon? Of course not. In fact, it may never die because people will always need to wear shoes! And it’s for that exact reason that we recommend you check out our Hypemaster Playbook to always cop the top sneakers on release day!
While physical reselling won’t die, digital reselling will be born. Soon you’ll be able to buy Crocs online and sell them halfway around the world without having to ever even touch the pair. The pair doesn’t even have to be a physically created shoe!
Can you imagine being able to resell without having to worry about shipping, taxes, scammers… it’s the reseller’s dream!
This is a not-so-distant future and you need to be ready when it comes!
Frequently Asked Questions
What Are NFTs?
NFT stands for a non-fungible token, which basically means that it’s a one-of-a-kind digital asset that belongs to you and you only. The most popular NFTs right now include artwork and music but can also include videos and even tweets.
How Can I Buy NFTs?
Get started by visiting the OpenSea login page and connecting your crypto wallet. Visit your Profile where collected NFTs can be seen by members of the community. Profile pages track your favorite NFTs and marketplace activity. Now you’re prepared to browse through the marketplace and potentially make a purchase.
Are Crocs Still Popular?
Crocs have seen a huge boost in popularity in 2021. To some, the foam plastic footwear is ideal to wear when nobody is around, while others consider it a trendy fashion statement. The Colorado-based company reported a second-quarter sales surge of 93.3%