This auto giant will be the last leg in the NFT world
Ford Motor Company has revealed its metaverse ambitions. The car giant has been the latest to file a trademark with the United States Patent and Trade Office (USPTO).
Trademark attorney Mike Kondoudis tweeted that the American auto giant filed 19 trademark applications covering major brands, such as Mustang, Lincoln, Bronco, etc.
🚨🚨FORD makes a big move into the Metaverse!
The company has submitted 19 trademark applications for all its major brands, requiring plans for:
▶️ Virtual cars, trucks, vans and clothes
▶️ Online shops for NFTs#NFT #Metaverse #Web3 #NFTs #Ford #Mustang #F150 #Ford trucks pic.twitter.com/2JK2Nf9jO7— Mike Kondoudis (@KondoudisLaw) 7 September 2022
Take a closer look at the application
A closer look at one of the 19 applications shows that the application covers different products. These include downloadable artwork, text, audio and videos featuring Ford vehicles. These will be authenticated by NFTs, digital goods and a NFT marketplace to promote digital artworks, among other things.
The application also mentioned “downloadable virtual goods” of accessories and vehicle parts. This would be intended for “online virtual worlds” including exhibitions held in virtual and augmented reality.
New trend in the industry
The automotive industry is witnessing a trend related to the metaverse, through NFTs and digital products. Furthermore, established brands, such as Nissan, Toyota, and so on also advertise projects linked to the space.
In addition to NFTs bundled with the car itself, it is possible that NFTs can be offered as accessories when purchasing a card. This can complement the car manufacturers’ environmentally friendly pivot towards electric models
Mike Kondoudis also tweeted earlier this week that 2022 has seen over 5,800 trademark applications for NFTs and related services. In the second quarter of 2022 alone, there were 2,351 submissions, more than 2,087 submitted in the whole of 2021.
🚨So far in 2022, over 5,800 trademark applications have been filed with the USPTO for NFTs (and related goods/services)
January: 646
February: 781
March: 1078
April: 886
May: 747
June: 718
July: 530
August: 502The total in 2021 was 2,087.#NFTs #Web3 #NFT community #Metaverse #MetaverseNFT pic.twitter.com/3XCZTD4QP7
— Mike Kondoudis (@KondoudisLaw) 6 September 2022
Earlier this year, Mercedes Benz collaborated with Art2People to commission a one-off Mercedes Benz NFT collection based on their G-Class range. Around the same time, Italian sports car manufacturer Lamborghini announced its first NFT collection.
NFT trend hits related industries
British car manufacturer McLaren announced in June this year that its Formula One (F1) arm would create the McLaren Racing Collective. This would be an NFT collection with their racing cars. The F1 championship itself revealed last month that it plans to introduce NFTs and digital goods.
Crypto exchanges have also capitalized on the growing interest of retail users in NFTs. Exchanges have collaborated with several teams as sponsors in the F1 World Championship. FTX partnered with Mercedes F1, Aston Martin teamed up with crypto.com. Furthermore, Ferrari is sponsored by Velas.
The thousands of registrations made with the USPTO indicate increasing use of NFTs among big names globally. The Metaverse sees participation from major technology, automotive, fashion and fast food industries.
The NFT industry is projected to become a $240 billion industry by the end of the decade. This is clear that everyone wants a piece of it.
