Red Bull, the Austrian energy drink giant that filed a trademark application on March 3, 2022, signifying its intention to expand into the metaverse and provide branded NFTs, is the most recent corporation to begin making the metaverse transition.
On Tuesday, March 8, Michael Kondoudis, a licensed metaverse trademark attorney, announced the news on Twitter, revealing that the company plans to offer multimedia using NFTs, both virtual and cryptocurrencies, clothing, drinks, and athletic equipment, as well as financial exchange services in the virtual environment.
Red Bull fans that join the Metaverse could use their Red Bull currency to purchase products and services. As we’ve seen before, NFT holders are able to exchange their tokens for real-world events and digitally attend concerts and sporting events.
Red Bull is a significant sponsor of conventional sports like Formula One, NASCAR, basketball, and soccer.
While conventional sports have risen in popularity, Red Bull has been connected with extreme sports since its inception. The Extreme Sports calendar from Red Bull features BMX and skateboarding, cliff diving, freestyle skiing, and mountain riding.
Red Bull and Other Major Brands Join the Metaverse. Since late 2021, the Metaverse has progressed beyond consumer imagination. When borders reopen in the following of the COVID-19 outbreak, the Metaverse presents an alternative to in-person entertainment.
Due to growing investment in NFTs and the Metaverse, consumers are no longer required to be present at events. Art, fashion, entertainment, music, and athletics, to name a few, have all embraced virtuality. The choices are almost endless. Appropriate regulatory oversight has the ability to fundamentally transform the world as we know it.