FIFA, the international governing body for soccer, has taken a significant step towards embracing new technologies by filing a number of trademarks related to the metaverse.
The move indicates FIFA’s intention to tap into the potential of virtual reality (VR) and related technologies including non-fungible tokens (NFTs). The news comes amidst strong upwards price action for a number of metaverse tokens.
FIFA sets its sights on the metaverse
Football’s governing body FIFA has filed 9 trademarks covering various aspects of the metaverse including gaming, virtual clothing and entertainment services. In securing these trademarks, FIFA has staked its claim in the virtual realm, suggesting the possibility of further developments in the future.
#FIFA has filed 9 more Metaverse trademark applications as part of its “WE ARE” campaign. The filings claim plans for:
— Mike Kondoudis (@KondoudisLaw) June 20, 2023
FIFA is now well positioned with trademarks encompassing virtual stadiums, immersive soccer experiences, player avatars, and digital collectibles.
Metaverse tokens surge
The announcement of FIFA’s metaverse trademarks coincides with strong upwards price action for a number metaverse tokens, suggesting a positive effect on the market. Metaverse tokens represent digital assets that enable users to participate in and navigate the metaverse. According to data from CoinGecko, a cryptocurrency tracking platform, several metaverse tokens have experienced a surge in price.
One such token is Apecoin (APE), which has seen a 6.00% increase in price in the past 24 hours. With a circulating supply of 370 million APE and a market cap of $797,806,479, Apecoin’s surge demonstrates a rising demand for metaverse-related investments.
APE/USD daily price chart, source: CoinGecko
Internet Computer (ICP) and Stacks (STX) have also witnessed significant price increases of 4.4% and 17.62% in the last 24 hours. These price surges reflect the market’s positive response to FIFA’s commitment to the metaverse and the industry’s potential growth.