The Ford Motor Company has shown what it wants to do in the metaverse. The car company is the most recent one to file a trademark with the U.S. Patent and Trade Office.(USPTO)
Trademark lawyer Mike Kondoudis wrote on Twitter that the American car company filed 19 trademark applications for big brands like Mustang, Lincoln, Bronco, and so on.
Examining the application more closely
When you look more closely at one of the 19 applications, you can see that the filing is for more than one product. There is art, text, audio, and video about Ford cars that can be downloaded. These would be verified by NFTs, digital goods, and an NFT marketplace, where, among other things, digital art could be sold.
The application also talked about “downloadable virtual goods,” which are things like car parts and accessories that can be downloaded. This would be for “online virtual worlds” like virtual and augmented reality exhibitions.
Emerging market pattern
Through NFTs and digital products, the automotive industry is becoming more connected to the metaverse. Also, well-known companies like Nissan, Toyota, and others are announcing projects related to space.
Also, NFTs may be sold as an extra with the purchase of cards if they come with the actual car. This could go well with automakers’ move toward electric cars, which is good for the environment.
Mike Kondoudis also said earlier this week on Twitter that over 5,800 trademark applications for NFTs and services like them have been filed for 2022. More than 2087 filings were made in 2021, but only 2351 were made in the second quarter of 2022.
Mercedes Benz worked with Art2People earlier this year to make a one-of-a-kind Mercedes Benz NFT collection based on their G-Class line. At about the same time, Lamborghini, an Italian sports car company, announced their first NFT collection.
In June of this year, British car company McLaren said that its Formula 1 (F1) division would be making the McLaren Racing Collective. This would be a collection of race cars made by NFT. Last month, the F1 championship announced that they plan to add NFTs and digital merchandise.
Crypto exchanges have also taken advantage of the fact that retail users are becoming more interested in NFTs. Exchanges has been a sponsor for a number of F1 World Championship teams. Mercedes F1 teamed up with FTX, and Aston Martin joined forces with crypto.com. Also, Velas is helping to pay for Ferrari.
The thousands of filings with the USPTO show that big names around the world are using NFTs more and more. Big companies in the tech, auto, fashion, and fast food industries are joining the metaverse.
By the end of the decade, the NFT industry is expected to be worth $240 billion. Everyone wants a piece of it, which is clear.