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Luxury watch brand Rolex has recently filed crypto, NFT, and metaverse trademarks, leading many to question if the brand will be making its official debut in the metaverse.
Rolex Files Trademarks
According to USPTO licensed trademark attorney Mike Kondoudis, Rolex has filed for metaverse-related trademarks. On Monday, Kondoudis broke the news by tweeting that the luxury watchmaker has filed applications to trademark NFTs, crypto keys, and virtual goods. In the application, the company claimed that they have plans for NFTs, crypto keys and transactions, and virtual good auctions.
Kondoudis’s tweet read,
“Luxury watchmaker #ROLEX has filed a trademark application claiming plans for: NFTs + NFT-backed media + NFT marketplaces, Crypto keys and transactions, Virtual goods auctions, Virtual and cryptocurrency exchange + transfer.”
Is Rolex Entering Metaverse?
Since the trademark application specifically mentioned virtual goods auctions, including watches, art objects, digital collectibles, and more, speculation has been rife that Rolex will be the next luxury brand to launch its virtual presence on the metaverse. If that turns out to be true, then digital avatars in the metaverse could sport virtual Rolex pieces and merchandise. In fact, some Rolex owners have requested an exclusive NFT drop, catering only to them.
Although most of the NFT and crypto community is expecting a metaverse launch, few others have suspected that the trademark application might be Rolex’s attempts at protecting the brand from potential infringement on the metaverse or NFT projects.
Luxury Retail And Web3
Despite the challenging bear market that has pulled down prices more than 50% in 2022, the year has also witnessed some truly ambitious NFT projects. In fact, more and more brands have launched projects or shown interest in building in the metaverse space. NFT retail has become much more expected this year, with over 4708 US trademarks filed for digital or crypto-related goods and services. The number of applications is much higher for NFT and related goods and services, at a whopping 6855, which is significantly more than last year.
It would not be that wild to imagine Rolex’s interest in the metaverse and NFTs since another luxury watch brand, TAG Heuer, had launched its own NFT-related feature in June. Another luxury brand, VERTU, has also launched its own NFT collection in partnership with crypto exchange Binance to mark the occasion of its 22nd brand anniversary. Luxury fashion brands like Louis Vuitton, Dolce & Gabbana, and Gucci have also dabbled in the metaverse by participating in the fashion week held on Decentraland.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.