The past year led to the integration of non -buttocks (“NFT”) – or unique cryptographic tokens that are managed on the blockchain (in order to follow the property and history of transactions of these non -interchangeable tokens) and often linked to assets, ranging from digital art to physical shoes. “Generate a significant excitement because supporters say they solve delicate problems”, the Pranshu Verma of Washington Post declares that, among other things, NFT allow “digital images, formerly considered to be worthless because they could be easily copied, (to) be held now and attributed monetary value”.
Such excitement has been demonstrated in NFT sales prices, with famous examples including the “first 5000 days” of Beeple, which sold for 69 million dollars during an auction of Christie in March 2021; The Merge “by Pak, which brought in $ 91.8 million via Nifty Gateway in December 2021; And various NFT Cryptopunk, which sold for the crypto equivalent of tens of millions of dollars. The volume of transactions on NFT platforms (Opensea, for example, has a volume of transactions of more than $ 14 billion in 2021) seems to indicate the level of enthusiasm of space, as well as the rate at which major brands – including those of luxury space, such as Gucci, Prada, Louis Vuitton and Givenchy – tested the Waters according to NFT projects.
Meanwhile, the interest in the market has also been reflected in the rise in brand deposits for NFTS – and web3 and Metaveverse Ventures more widely – by brands at all levels. The efforts of brand holders to turn to the American Patents and Brands and other brand offices in the Singapore, Switzerland, Mexico and Canada in October 2021, and has since submitted requests for various notes from its RTFKT brand for use in relation to NFTS, in particular.
The momentum of brands that seek to strengthen their existing brand rights for use on NFT and / or metavese was swept away in 2022, according to new figures on documents with the American patent and brands office (“USPTO”). So far this year, the number of brand requests linked to the NFT that have been filed with the USPTO is increasing. From January 1 to May 31, Kondoudis’ law has found These 4,049 brand “NFT” brand requests for registration were filed with the USPTO, against a total of 363 requests during the same period last year. The greatest number of requests to this year has come in March (1023), followed by April (876), February (770), May (743) and January (637).
In something of the same vein, the number of Crypto and Metaverse brand applications is also increasing, with more than 2,600 brand applications for digital cryptocurrencies or cryptocurrencies) deposited with the USPTO from January to the end of May.
And in terms of registration requests for metavers’ marks (that is to say those referring to virtual goods / services), from January 1 to May 31, more than 2,717 requests were filed with the USPTO, against 507 requests submitted in the same five months in 2021. As indicated in the Metavese’s racing list of TFL, Salentino, Vent, Versace, Chrome Hearts, Laurent, Levito, Fent, Versace, Versace Piguet, Burberry and Bulgari are part of some of the many fashion / luxury brands that have filed brand applications that focus on metavese efforts.
(Brands that seek to deposit Metaversse -focused applications have regularly cited class 9 for “downloadable virtual products”, class 35 for “retail store services with virtual products” “and class 41 for” entertainment services, namely, offering online, non -downloadable virtual bags, clothing, breakage clothes, lip bags, bags Environmental parties »as the main classes of goods / services.
The data deposit for June and the coming months will provide an interesting overview of how the brands consult the NFT market now and from a more focused perspective on the future, in particular because the media in space seems to adapt to a certain extent to the light of the fact that the wider cryptographic market is in the course of crater. It should also be noted that not all messages on this front are simple. In the midst of speculation on the future of the enthusiasm of the NFT and reports of an increasing decline, in particular the Financial Times, which reported in March that “the average sale price of an NFT had dropped by more than 48% from a peak in November to around $ 2,500”, the brands remained optimistic. Last month, for example, Txampi Diz, director of marketing at Balmain, said that the brand considered NFT as “an interesting and powerful tool”. Meanwhile, Prada announced the last iteration of her foray into Web3 with her new NFT “Timecapsule” company, which she made her debut in early June.
And today the New York Times quoted The CEO of Hublot Ricardo Guadalupe, who declared that he was “enthusiastic” by the potential that NFTS holds for luxury watches, and Jean-Marc Pontroué, CEO of Panerai, who introduced NFTS in March, who revealed the brand’s objective to take advantage of the decentralized value (of NFTS) to transform the relationship we have with our customers and our community decentralized “.
It will also be striking to see how many recording requests in this growing volume of deposits for the Metaverse, Crypto and NFT brands, will in fact be recorded with the USPTO, and perhaps even more interesting, in the extent to which the USPTO exam lawyers repel such applications, including when it comes to showing real use in the trade. To date, the vast majority of these requests, including the first people that Nike filed in October, is still waiting for the exam by the brand’s office.
This article was initially published on June 14, 2022 and was updated to include new data on Metaversse and NFT brand deposits.
