Nike files for a ‘virtual goods’ patent. With CNBC’s Melissa Lee, and the Fast Money traders, Tim Seymour, Dan Nathan, Karen Finerman and Brian Kelly. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
This is not the brand’s first foray into the virtual world. In May 2019, the Jordan brand partnered with Fortnite, where characters wore Nike-branded sneakers. Nike has also had several collaborations with the online gaming platform Roblox.
The company is still waiting on a patent filed in April 2019 for “Cryptokicks,” which Nike plans to use as a nonfungible token.
As Nike prepares for the virtual world, its physical world has most recently been impacted by supply chain issues. In its most recent earnings report, on Sept. 23, the company lowered its fiscal 2022 outlook to account for longer transit times, labor shortages and prolonged production shutdowns in Vietnam.
Nike shares are up 18% year to date, putting its market value at more than $265 billion.
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