- The oldest watchmaker Rolex filed a trademark application for NFT marketplaces.
- The watchmaker also calls for the development of virtual goods for online gaming.
Rolex, the swiss luxury watchmaker, has applied for trademarks in Metaverse and NFT as per a tweet made by Mike Kondoudis, the United States Patent and Trademark Office (USPTO) licensed trademark attorney. Also, Rolex has submitted trademark registrations on cryptocurrencies.
Luxury watchmaker #ROLEX has filed a trademark application claiming plans for:— Mike Kondoudis (@KondoudisLaw) November 7, 2022
⌚️ NFTs + NFT-backed media + NFT marketplaces
⌚️ Crypto keys and transactions
⌚️ Virtual goods auctions
⌚️ Virtual and cryptocurrency exchange + transfer#NFTs #Metaverse #Crypto #Web3 #Perpetual pic.twitter.com/J8C93Qcybj
Further, Mike has mentioned the number of applications received by USPTO regarding trademark in metaverse and NFT, which are 4,997 and 6,855 respectively. And the specified volume is over 250% more than the previous year’s applications processed.
Rolex is the newest luxury company that intends to explore the possibilities and prospects in the metaverse. In addition, the luxury watchmaker’s trademark registration suggested launching NFTs, NFT-backed media, NFT markets, crypto keys and transactions, and virtual goods auctions, as well as virtual and cryptocurrency exchanges. Also, the Trademark application indicates the company’s general expansion strategies, which also call for the development of virtual goods for online gaming.
However, Rolex is one of the famed and luxurious watch companies which is existed for more than 100 years. Now the company has observed the potential of the cryptocurrency market and integrated blockchain technology into its goods and processes.