When non-fungible tokens (NFTs) broke through into the mainstream in 2021, many big brands, celebrities, and tech personalities stood behind them. This year, while the NFT market is still in its infancy, brands, and individuals are already racing to obtain trademarks to protect future NFT products.
According to Finbold, the US Patent and Trademark Office has received 1,263 NFT-related trademark applications, accounting for a 421-fold growth from 2020. The number has also surpassed registrations in 2021 and has increased by a whopping 11,150% from February last year.
If anything, this rise in trademark applications highlights NFT’s potential and that established global brands are serious about entering Web3. Below are some of the most high-profile trademark applications in 2022.
High-profile Trademark Applications in 2022
Victoria Secret
Victoria Secret has forayed into the world of NFTs. In February, the world-famous designer lingerie company filed for a series of trademark patents, signaling that the brand is ready to open its stores in the metaverse. The brand may soon offer its lingerie and clothing designs as NFTs across different metaverse platforms. Virtual fashion is a burgeoning segment in the NFT sphere, and it’s inevitable that household names in the industry will want to take their piece of the pie.
McDonald’s
Global fast-food chains have also dipped their toes in the NFT and metaverse pool. McDonald’s has recently registered ten trademarks, hinting that the restaurant giant will soon offer NFT products and build a presence in the metaverse. In fact, the company looks to operate virtual restaurants featuring actual goods and home delivery options, which means virtual visitors could order a Big Mac and receive the meal in real life.
American Express
Virtual banking has been all the rage, a welcome craze ignited by JPMorgan opening the first bank in the metaverse. Its financial peers like Visa and Mastercard have followed suit. More recently, American Express, the second-largest payments processor in the world, has also revealed its intentions to venture into Web3. It has filed seven trademark applications for its logos, indicating plans to offer virtual banking and exchange services in the metaverse.
Burger King
Burger King, a popular American fast-food chain with a global reach, has been at the forefront of NFT innovation. Its loyalty program incorporates NFTs and incentivizes loyal customers with cryptocurrency. Beyond that, it has matured into an ingenious way to cultivate customer engagement. The company has since filed for several trademark applications to cement its brand in Web3.
DKNY
Another established fashion brand, DKNY, is looking to expand its reach into the NFT space. In late March, the clothing company announced its first trademark application, indicating that it aims to provide virtual goods for use in virtual worlds. It’s also looking to build an interactive website for virtual reality game services.
WWE
The World Wrestling Entertainment (WWE) is also embracing NFTs and is set to enter the metaverse. In fact, it has filed multiple patent registrations and has expressed their intention to create an online marketplace for buying and selling digital assets and NFTs. Moreover, the company intends to create online stores for virtual assets and offer NFT and crypto exchanges.
Non-fungible tokens (NFTs) have made it possible for individuals and companies to own, build, and sell digital assets and build a presence in the metaverse. With these established brands leading the way, this presents many opportunities for businesses big and small. These trademark applications tell us that brands embrace blockchain technology and cryptocurrency, and see the NFT space as an ideal point of entry. In the near future, Web3 will begin to look a lot like the real world, which could only hasten its adoption at scale.
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