Non-fungible tokens (NFTs) and metaverse ideas have made it possible for brands all over the world to try out new ways of interacting with their customers. A high-end company called Hermès has filed trademarks to get into this market.
In particular, Hermès trademarked its name so that it could expand into the NFTs and virtual currency, crypto and NFT trading, virtual goods marketplaces, apparel, footwear, and fashion shows industries.
Michael Kondoudis, a licensed trademark attorney, tweeted on August 31 that his client had sent a trademark application to the USPTO on August 26.
Luxury brand Hermès has filed a trademark application for its name claiming plans to expand into
— Mike Kondoudis (@KondoudisLaw) August 31, 2022NFTs + Virtual currency
Crypto + NFT trading
Virtual good marketplaces
Virtual clothing, footwear, and fashion shows
… and more#NFT #Metaverse #Web3 #Crypto #Hermes_Paris pic.twitter.com/hdvsXeQtrC
If the trademark applications are approved, Hermès will also offer user authentication services for e-commerce and video game software that can be downloaded and has digital items for sale to customers.
Luxury items with a crypto theme
Even though cryptocurrency markets have been going down lately, it is interesting that high-end fashion and watch companies all over the world are still interested in the sector.
As an example, Jacob & Co. said it would show off the brand-new Astronomia Solar Bitcoin limited edition at the World premiere during “The Geneva Watch Days,” which is by appointment only. It’s the first time a cryptocurrency has been used to make such a complicated watch, and it’s based on Bitcoin.
People think that the products of some high-end brands are better investments than more traditional assets, which makes their interest in cryptocurrency interesting. In September of 2020, for example, it was widely known that the Hermès Birkin bag’s price had gone up faster than both the S&P 500 and the price of gold since it was first made in 1981.
As more companies bet on the NFT market, the total number of NFT trademarks has also gone up. From January 1 to May 31 of 2022, there were 4,049 trademark applications in the United States that had to do with NFT, according to a study by Finbold. During the time period being looked at, an average of 27 new trademark applications for NFT were sent in every day.
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