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A partnership with Plutus would give Nike up to 3% in cryptocurrency awards

June 2, 2020

America’s shoe giant, Nike continues to research the blockchain industry and cryptocurrencies by introducing cryptocurrency refunds.

The famous shoe and clothing company has just partnered with London-based financial technology company Finut. You can unlock up to 3% in cryptocurrencies and 9% in cash for purchases in the Nike online shop.

Rewards are only available for GBP and EUR

To receive the rewards, customers must use the Plutus Visa card when shopping online. With Plutus previously operating in the UK and European Economic Area, the service can now be purchased in euros (EUR) and sterling (GBP), a spokesman told Cointelegraph.

A partnership with Plutus would give Nike up to 3% in cryptocurrency awardsA partnership with Plutus would give Nike up to 3% in cryptocurrency awards

Rewards are generated in Plutus’ native token, Pluton (PLU), a decentralized loyalty token that runs on the Ethereum network. In addition to 12% of the total rewards available, Plutus users can earn more rewards by using the PLU token through the Plutus app. At press time, the token is trading at $ 1.75 with a market cap of approximately $ 1.5 million.

Plutus is a partner of Airbnb and Skyscanner

Introduction to Nike’s cryptocurrency rewards, Plutus takes another step in its mission to bring cryptocurrencies into everyday life. Nike’s affiliate partnership comes months after Plutus launched a similar feature earlier this year on major travel websites, Airbnb and Skyscanner. Unfortunately, the development had to be stopped due to the outbreak of the corona virus.

Danial Daychopan, CEO and founder of Plutus, said:

“Plutus was approved as a partner for Airbnb and Skyscanner earlier this year. However, all programs in the” Travel “category were temporarily suspended by the company due to travel restrictions due to COVID-19. Both partners were involved to offer cash payment to qualified Plutus members . “

Features related to cryptocurrency are nothing new for the Nike brand. At the end of 2019, Nike patented so-called “CryptoKicks”, shoes that are marked as non-consumable tokens in the Ethereum blockchain. Nike also participated in a blockchain-based supply chain pilot project supported by Alabama’s Auburn University.