As the digital world continues to expand, multinational corporations have been increasingly turning to trademarks to stake their claim in the realms of Web3, NFTs, and the metaverse. Despite the recent downturn in related markets, companies such as General Motors, Lacoste, and Walmart have been actively filing trademark applications for their brands and products.
In February of 2023, General Motors filed for two new trademark applications for their Chevrolet and Cadillac brands, which cover downloadable digital media files containing collectible artwork, text, audio, and video that have been authenticated as nonfungible tokens. Similarly, French clothing giant Lacoste filed five trademark applications for “CHAMPS-ELYSEES,” which detail plans for NFTs, crypto transaction software, virtual clothing, stores for virtual goods, and virtual real estate services.
Even larger retail corporations such as Walmart have been getting in on the action, filing trademark applications for the “SamsClub” name and logo, which include plans for NFTs, blockchain software, virtual reality healthcare, cryptocurrency trading, brokerage, and financial services.
But it’s not just these well-known brands that are filing trademarks. In fact, pet food firm Pedigree, insurance company Nationwide, Irish distillers Jameson, French fashion giant Yves Saint-Laurent, and even the National Geographic Society have all filed trademark applications in January alone, covering Web3, NFTs, the metaverse, and crypto-related products.
Despite the recent bear market, there has been a record number of trademark applications for NFTs, metaverse, and crypto-related products in 2022, according to intellectual property lawyers. This suggests that even though the markets may be volatile, companies are still willing to invest in the digital future and secure their place in it.
As the digital landscape continues to evolve, it’s clear that trademarks will play a critical role in defining and protecting brand identities in the realms of Web3, NFTs, and the metaverse. And with multinational corporations leading the way in filing for trademarks, it’s likely that smaller businesses and startups will follow suit in order to stay competitive and relevant in these emerging markets.