Crocs Inc. Ventures into NFT space following the Highs of 2021

From in-style to out-of-style to back in style, shoe company Crocs Inc. has had a roller coaster of a year when it comes to staying in fashion. When it comes to sales, the company saw a 67% increase in 2021 as compared to 2020. 

“2021 proved to be an exceptional year for the Crocs brand … amidst a challenging global supply chain environment,” said Crocs Chief Executive Andrew Rees in a statement

“We remain incredibly confident in the Crocs brand and continue to expect to achieve $5 billion in revenues by 2026, even before any HEYDUDE revenues. Building upon that strong foundation, upon closing, we are excited to add HEYDUDE as another high growth, highly profitable brand.”

In addition to their exceptional year, the company also plans to expand its reach into the NFT space as they have filed for a trademark application last Jan 11th. This endeavor would potentially see the development of tokens inspired by the brands’ footwear, clothing, bags, and accessories. 

According to popular crypto site Coindesk, the filing is a strong indicator that Crocs will begin issuing NFTs. With the move, Crocs joins the likes of Nike, Adidas, and Under Armour in shoe brands expanding into the NFT-verse. The company is hopeful that, much like its competitors, it can generate millions in revenues from these tokens.

Source: Coindesk, PRNewswire