Metaverse gets a boost as Nike files for virtual trademarks
Metaverse is gaining a lot of traction in recent times with Facebook choosing to rename the company as Meta and it received a further boost today with the major company Nike filing for seven new intent-to-use applications with the US Patent and Trademark Office in late October.
It was just last week that Facebook made it clear that its next frontier was the Metaverse where it wants to build out a social network and a virtual world with transactions happening through virtual currencies. There are already a few other companies that are building out their versions of the metaverse and all of them have been receiving some strong backing from the investors as the Metaverse is expected to dominate the technology space in the coming years with it having lots of opportunities in many fields and businesses. Nike also seems to have recognized this shift as it has filed for patents for 7 of its notable trademarks. These trademarks include the words ‘Nike’, ‘Just Do It’, ‘Jordan’, ‘Air Jordan’ along with its swoosh logo, the Jordan Silhouette logo, and the stylized combo of the company name and the swoosh.
In the applications, Nike says that it has plans to use the patents for “downloadable virtual goods, retail store services featuring virtual goods and entertainment services,” the last of which includes things like online non-downloadable virtual footwear, clothing, headwear, bags, equipment and similar items. With the pandemic having hit hard many of the businesses and merchants, the virtual world could be an important source of revenue for many companies in the coming years. The company is also looking towards hiring virtual material designers so that it would be able to come up with merchandise and other virtual material that can be used in the metaverse in the hope that it would be able to create a similar kind of demand in the virtual world as in the real world.
The metaverse is also expected to give a big boost to the gaming industry as well as NFTs and cryptos as they are likely to be used the most within the metaverse. Already we are seeing the cryptocurrencies related to blockchain and virtual gaming projects getting a big boost with some of the prices skyrocketing ever since the announcement from Facebook.