The Ford Motor Company is a giant in the world of automobiles. Furthermore, it has been around, since 1903, gaining in strength over the years. Today, it is in the news for a rather startling reason! The company plans to become part of the Metaverse. Visit the official trading site of Bitcoin Trader to begin your bitcoin journey.
It is evident from the way it has filed a trademark with USPTO. The term refers to the United States Patent and Trade Office. The confirmation has also come from Mike Kondoudis. He is a highly-reputed trademark attorney. His post on Twitter declared that the Ford Motor Company had forwarded 19 applications.
The Trademark Applications
These trademark documents cover varied well-known brands. They include Bronco, Mustang, Lincoln, etc.
The filing also concentrates on diverse products. These products include videos, artworks, audios, and texts highlighting the automobile giant’s cars. All these products will be downloadable.
The authentication will take place via NFTs, an NFT marketplace promoting the different products, and digital merchandise.
Finally, there is mention of virtual goods that are available for downloading. The goods cover vehicle parts, and accessories. They are all meant for virtual worlds, that is, an online environment. The virtual worlds include exhibitions, too. They will be linked to augmented, and virtual reality.
The Latest Trend
Since its entry into the virtual world, the Metaverse has been capturing everyone’s imagination. Therefore, the automotive industry’s affiliation with it, is not surprising.
The connection is being established through digital products and NFTs. This trading platform is highly informative.
Emulating the Ford Motor Company, other famous brands are also going in for projects linked to this space. They include Toyota, Nissan, etc.
Now, the actual automobile and NFTs will come together, during every deal between the buyer and the seller. Therefore, automotive dealers may opt to offer NFTs in the form of accessories to purchasers of cards. In turn, automakers may pivot towards the creation of eco-friendly models of cars. They are known as electric models.
According to Mike Kondoudis, more than 5,800 trademark applications have been forwarded to the USPTO. The filings are for NFTs, and linked goods/services.
They have all been documented in 2022. Additionally, the second quarter of the year, has witnessed more applications, in comparison to the first quarter. The number is 2,351. In contrast, the entire 12 months of 2021, saw only 2,087 applications.
From Automotives to Related Industries
During the earlier part of 2022, Art2People and Mercedes Benz opted for a partnership. The idea was to commission a project, founded on the G-Class lineup. This project was the one-off NFT collection, associated with Mercedes Benz. Similarly, Lamborghini, the manufacturer of Italian sports cars, launched its initial NFT collection.
Following upon these noteworthy events, McLaren made an announcement in June 2022. The automaker from Britain declared that the company would be launching the McLaren Racing Collective. The company’s Formula 1 (F1) arm would oversee this collection of NFTs. The NFTs would feature these British race cars.
Even the F1 Championship authorities revealed that they would be introducing digital merchandise and NFTs, to commemorate the event. This announcement came through in August 2022.
Not wishing to be left behind, cryptocurrency exchanges have come up with their own schemes. The idea is to capitalize on the consumers’ enhanced interest in NFTs. The consumers consist of retail users.
Therefore, the exchanges have been offering themselves as sponsors for various sporting teams. To illustrate, Mercedes F1 and FTX are partners. Similarly, Crypto.com and Aston Martin have teamed up for the Championship. As for the Ferrari, it has received a sponsorship offer from Velas.
Increasing Inclination towards NFTs
The USPTO has been receiving 1,000s of trademark filings, especially in 2022. This suggests that well-reputed industries, especially the automobile sector, are keen on befriending non-fungible tokens (NFTs).
Thus far, fast food chains, fashion houses, and big tech companies had been participating in the Metaverse. Now, another industry has joined them – the automotive industry. As a result, experts predict that the NFT industry will display tremendous growth over the next few years. In fact, it may become richer by at least, $240 billion. It is why everyone is rushing to capitalize on the new trend!