Nike Inc. might soon sell sneakers that can’t be worn. On Tuesday, Nike was trading at about 1% higher following a report that the company had filed seven trademark patents in preparation to enter the metaverse. Digital items listed in the filings include headwear, eyewear, bags backpacks, and sports equipment under both the Nike and Jordan brands.These applications indicate that the company plans to sell digital versions of its sneakers, clothing, and other goods with its swoosh and “Jumpman” logo in virtual worlds such as video games.Virtual goods, including apparel, are gaining more interest as consumers collect digital art and video-game skims for popular titles. Brands have also started selling digital assets like nonfungible tokens (NFTs) that are authenticated through blockchain technology. According to filings, the company wants to protect its brand and the slogan “Just do it” and avoid knockoffs of the brand appearing in games.However, the trademark filings are merely an indication of Nike’s intention to sell its goods in the virtual world and won’t be finalized until they’re in commercial use.WHY IT MATTERS Supply chain issues that affected Nike’s 2022 fiscal outlook and caused stocks to drop 6.26% will not affect Nike’s virtual clothing and footwear.As of Tuesday, Nike not only erased all of its losses between 27-30 September when stocks fell a further 3.52% but are also heading towards all-time highs.Nike’s relative strength index (RSI) measuring in at about 68% on Tuesday might be of mild concern to bullish traders. When a stock’s RSI reaches or nears the 70% mark, it gets overbought which can be a sell signal for technical traders.Nike is trading above the eight-day and 21-day exponential moving averages (EMAs), with the eight-day EMA trending above the 21-day, both of which are bullish indicators. The stock is also trading above the 50-day simple moving average, which indicates longer-term sentiment is bullish.To invest in stocks, visit MEXEM today. Resources: https://hypebeast.com/2021/11/nike-joins-metaverse-sparks-rumors-virtual-trademark-application-filed-announcement https://www.bloomberg.com/news/articles/2021-11-02/nike-files-for-virtual-goods-trademarks-in-footwear-apparel https://www.benzinga.com/news/21/11/23833697/is-nikes-stock-ready-to-reach-all-time-high