As the metaverse concept and non-fungible tokens (NFT) continue to take shape, leading global brands are positioning themselves to benefit from the trend as they explore means to sustain connections with customers.
Consequently, leading global chocolate manufacturer Mars Inc. has filed for an NFT trademark application for its popular brand M&M. Licensed trademark attorney Michael Kondoudis revealed the news of the application in a tweet on June 24, noting that the application entails “NFTs and digital tokens, virtual candy and snacks.”
Additionally, the application made on June 20 before the United States Patent and Trademark Office (USPTO) covers software for authenticating, transmitting and storing NFTs, digital currency and tokens alongside crypto-collectables.
The company expressed its intent to leverage the cryptocurrency sector by offering NFTs and digital collectables covering some of its popular physical products. A breakdown of the application shows that the company will offer virtual entertainment services like online virtual environments that will feature virtual products like chocolate, candy and gum.
Global brands increasing metaverse interest
Notably, leading global brands from different sectors are increasingly showing interest in the metaverse and NFTs as the sector matures. Currently, the growing sector is viewed as an ideal opening for brands to connect with customers.
Other food companies that have ventured into the metaverse include McDonalds and KFC moving their products to the virtual world.
Other notable companies showing intent to enter the metaverse include automaker DeLorean Motor Company which filed two NFT trademarks in May.
The NFT trends and celebrities
Indeed the NFT trend has also impacted individuals, with celebrities like basketball star Kevin Durant emerging among the notable figures. The Brooklyn Nets player filed 26 trademark applications as part of interacting with his fans.
Elsewhere, Manchester United star Cristiano Ronaldo has also signed an exclusive multi-year NFT deal with crypto exchange Binance.
As reported by Finbold, NFT-related trademarks in the United States surpassed 4,000 between January 1 to May 31, 2022. It’s worth noting that once the NFT applications are approved, the sector will likely grow in value to surpass the market capitalization of assets like Bitcoin.