In recent weeks and months, the metaverse generally referred to as virtual reality, has continued to capture the interest of an increasing number of household brands. The latest company to enter the metaverse is the energy drink giant Red Bull.
Red Bull plans to expand into the metaverse and offer NFTs
The Austrian energy drink giant Red Bull, which submitted a trademark application on March 3, 2022, signaling that it aims to expand into the metaverse and sell branded non-fungible tokens, is the latest corporation to start making the move.
Michael Kondoudis, a licensed metaverse trademark attorney, announced the news on Twitter on Tuesday, March 8, revealing that the company plans to offer multimedia with NFTs, both virtual and cryptocurrencies, clothing, drinks, and sports gear, as well as financial exchange services in the virtual environment, among other things.
The trademarks were registered under the registration number 97293326 with the United States Patent and Trademark Office (USPTO).
It’s worth mentioning that organizations, businesses, and celebrities have all been expanding their presence in the metaverse for some time, and this is only the most recent example of this rapidly rising trend.
Chevron, an American global oil giant, registered a new metaverse-related trademark for its name and emblem on March 7, according to Finbold.
Companies outside of the IT industry are progressively planning for the transition to a virtual market by building a proactive, forward-thinking strategy and laying the framework for such a transformation, according to Kondoudis.
Victoria’s Secret, McDonald’s, Monster Energy, and retailing juggernaut Walmart have all joined the NFT bandwagon, in addition to the lingerie brand. The New York Stock Exchange (NYSE) succumbed to the space’s allure as well.
The number of NFT trademark applications in the United States climbed 421 times
According to Finbold’s data, the number of NFT trademark applications in the United States increased by 421 percent in 2021, compared to only three in 2020.