According to recent trademark applications, Ford, the American car manufacturer, is jumping on the Metaverse bandwagon.
??FORD is making a big move into the Metaverse!
— Mike Kondoudis (@KondoudisLaw) September 7, 2022
The company has filed 19 trademark applications for all of its major brands claiming plans for:
?? Virtual cars, trucks, vans, and clothing
?? Online stores for NFTs#NFT #Metaverse #Web3 #NFTs #Ford #Mustang #F150 #Fordtrucks pic.twitter.com/2JK2Nf9jO7
The automaker has filed 19 separate trademark applications for each of its key brands. The company, based in Dearborn, Michigan, plans to sell virtual cars, trucks, vans, and clothing. It also has plans for non-fungible token-based online stores (NFTs).
Among the 19 applications are FORD, F-150 LIGHTNING, MUSTANG, LIGHTNING, MUSTANG MACH-E, BRONCO, TRANSIT, and ESCAPE, according to screenshots shared by Kondoudis. Ford submitted the applications on September 2 and was waiting for approval at the time of publication.
The applications were submitted under Section 1(B), indicating an intent to use. Furthermore, information from the screenshots indicates that the firm intends to apply for the trademarks in a variety of ways within the Metaverse.
Hyundai, the South Korean automaker, had previously filed several trademark applications related to the Metaverse and non-fungible tokens. Its filings include sports equipment, headgear, footwear, eyewear, and other items. Mercedes-Benz, Hyundai, Lamborghini, Bentley, and other major automakers have also released NFT collections. W Motors, a luxury hypercar manufacturer, entered the Metaverse space in August.
Renault Korea, the French automaker’s South Korean subsidiary, and The Sandbox, a popular Metaverse platform, debuted virtual automobile experiences earlier this week. Meanwhile, Alfa Romeo integrated NFTs into its vehicles to store maintenance records. While automakers are rapidly entering the NFT space, it is unclear whether this Metaverse fever will result in compelling use cases.
According to a recent Vanarama research article, some NFT enthusiasts are willing to pay more for virtual cars than real ones. An image of the Nissan GT-R car was sold for $2.3 million, which is ten times the price of the actual car. A video of a detonating Lamborghini was recently sold as an NFT for $250,000, which is also more than the value of a real Lamborghini.
Ford’s most recent trademark applications highlight the company’s intentions to enter the Metaverse. The automaker’s interest in Web3 comes at a time when cryptocurrency adoption is at an all-time high.
Image Credit: Shutterstock
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