Famous shoe brand Crocs is joining the NFT wave soon
- Crocs had been one of the most famous shoe brands, especially when it comes to Foam Shoes
- Approx $7 billion company has decided to plunge into NFT world soon
- The brand has already been hyped out there among people, and now digital collectibles are expected to continue the rally in the Digital world as well
Almost every highly valued company or brand is seeking to enter the digital world. Talking about wearable industries – brands like Adidas and Nike were already into the game. A recent trademark filing in USPTO on 11 Jan revealed Crocs planning to expand itself in the Non-fungible Token world.
Crocs’ most prominent product is Clogs, its best-selling item, and USP of the Brand. But the filing in the United States Patent and Trademark Office (USPTO) shows different Brand planning regarding the NFT market. The notes from the trademark files of Crocs stated that the registration of the brand is focused on covering the different classifications of digital assets, digital tokens, digital collectibles, and Non-fungible tokens, too, almost every digital media that will be downloadable. The brand plans to enter into and leverage Blockchain Technology and use its features like smart contracts. All these techs will help showcase the brand’s products and increase the reach.
ALSO READ – JP MORGAN PUMPS FUNDS INTO BLOCKCHAIN AND CRYPTOS
The shoe brand has been famous for its unique design products, although they are considered weird by most people. Even it has even been kept in TIME magazine’s list of the world’s 50 worst inventions. Crocs was founded in 2004, with its unique products foam shoes and especially clogs. The brand has seen massive success initially and was quite popular, especially among teenagers and high school students. The company was seeing a good amount of growth despite its criticism because of its design. But it started facing a downfall in 2008 during the time of recession. The company had planned to enter into the new fields of wearables launching new products. But the recession hit, and the company had faced huge losses. Its share price even came down from $69 to $1.
However, as things started getting normal and the market came back on track, the brand also bounced back because of its brand perception among customers. It even became a trend, and many celebrities like Justin Beiber, Ariana Grande, Kim Kardashian, and many more were often seen publicly wearing Crocs. The brand has also started making some limited edition wearables, and people started buying Crocs not just for wearable purposes but as collectibles. These incidents made massive publicity of the brand, and despite haters and critics of the brand, it still holds a good position in the market. Now, entering the digital world will make it closer to its customers digitally.
Back to the list