(Kitco News) – Swiss luxury watchmaker Rolex is looking to get into the Metaverse game, as evidenced by a recent trademark filing related to cryptocurrencies, non-fungible tokens (NFTs) and virtual goods.
Details of Rolex’s trademark application to the United States Patent and Trademark Office (USPTO) were tweeted by trademark and patent attorney Michael Kondoudis and indicate that the luxury watchmaker has extensive projects for his brand in the metaverse.
According to the data provided, the trademark application with serial number 97655284 was filed on October 31 and includes plans for non-fungible tokens and the exchange and transfer of virtual currencies.
luxury watchmaker #ROLEX filed a trademark application claiming plans for:
?? NFT + NFT-supported media + NFT marketplaces
?? Encryption keys and transactions
?? Virtual property auctions
?? Virtual exchange and cryptocurrency + transfer#NFT #Metavers #Crypto #Web3 #Perpetual pic.twitter.com/J8C93Qcybj
— Mike Kondoudis (@KondoudisLaw) November 7, 2022
Along with plans to conduct virtual goods auctions for digital collectibles, such as watches and art, the company is also looking to set up “online spaces for buyers and sellers of products virtual goods such as watches and watch parts”.
Rolex wants to firmly establish its brand in the Metaverse through the creation of NFTs, NFT-supported media, and NFT marketplaces. As part of its virtual expansion, the luxury watchmaker also intends to market its brand through product placements in online games.
According to the filing, areas where Rolex intends to apply its trademark include:
- Downloadable programs and media files containing NFTs and digital collectibles.
- Downloadable programs for use as digital wallets and downloadable cryptographic keys for use in receiving and spending cryptocurrencies.
- An online platform to facilitate an auction service involving NFT-based virtual items and digital collectibles.
- A virtual platform serving as an NFT marketplace for interested parties looking to buy and sell NFTs and digital collectibles.
- Provision of services involving the exchange of cryptocurrency, the transfer of digital assets between users and the management of cryptocurrencies.
It’s Rolex’s deepest foray into the cryptocurrency ecosystem yet, as it seeks to keep pace with rival watchmakers like Jacob & Co, which unveiled its luxury watch in late August. limited edition bitcoin themed.
Swiss-based luxury watch company TAG Heuer has also been active in the space, including a collaboration with crypto payment processor BitPay to accept crypto for its luxury watches.
Other luxury brands that have explored their options in the Metaverse include Burberry and Gucci, while numerous brands from other industries, such as Nissan, VISA and Western Union, have all actively filed crypto-related trademark applications. in 2022.
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