Nike Offers Digital Asset Rewards For Online Purchases, Inks Partnership With British Fintech Startup

Plutus, a British FinTech startup, is offering rewards by means of its credit card to users who purchase from the eCommerce store of Nike.

Notably, the aforementioned rewards consist of Pluton, the native virtual currency of the firm. Customers can receive extra rewards by staking their cryptocurrencies through the firms’ app.

Danial Daychopan, the founder of Plutus, mentioned,

“We recognised the importance of cryptocurrencies early on, and, in particular, honed in on the retail adoption struggles of the nascent asset and payments class. The aim was to circumvent the need for retail acceptance by integrating cryptocurrencies with our traditional legacy infrastructures to make them spendable anywhere immediately.”

To get the benefit, customers need to make the purchase via Plutus Visa card as they shop through the web. Plutus debuted an analogous function on Skyscanner as well as Airbnb. However, the founder and CEO Danial Daychopan mentioned per the report that “all programs in the travel category have been temporarily paused by the company due to travel restrictions caused by COVID-19.”

The development comes as Nike patented what are known as “CryptoKicks” footwear, which is tokenized on the Ethereum network as a non-fungible token.