United Parcel Service (UPS), an American multinational shipping and receiving company, is planning to venture into the metaverse. Mike Kondoudis, a non-fungible token (NFT) trademark attorney, unveiled this news through a tweet earlier today. According to him, the firm filed new patent applications to register United Parcel Service, The UPS Store, UPS, and the UPS Logo.
UPS submitted the applications to the US Patent and Trademark Office (USPTO) on April 5. The applications cover a plethora of virtual and NFT goods and services.
Specifically, UPS seeks to offer NFTs and crypto-collectibles, NFT-backed multimedia, virtual retail shipping and delivery, Virtual clothing, packages, vehicles, airplanes, and sports collectibles, marketplaces for digital goods and NFT-backed media, and retail stores featuring virtual goods.
Commenting on UPS’ decision to file patent applications for its metaverse products and services, Kondoudis said,
“UPS is a global shipping and delivery brand, and the value attached to its trademarks is significant. These filings are the next logical step to protect the UPS brand as it enters the metaverse.”
Striving to get a first-mover advantage
Per Kondoudis, the April 5 patent filings mean UPS believes in the potential of the metaverse. He added that UPS is preparing its trademarks and brand for the virtual economy with expectations that it will become a leading player in the metaverse.
Kondoulis further noted that UPS’ patent filings might trigger a wave of similar applications from the shipping, logistics, and package delivery industry.
“We expect the number of trademark filings for NFT and virtual products and services from the shipping, logistics, and package delivery sector to increase in the next 12 months as brands come to appreciate the need for protection in the Metaverse.”
Mainstream companies continue warming up to NFTs and the metaverse
After Facebook rebranded to Meta and announced its metaverse ambitions, established companies like Samsung and Disney quickly joined the space. Since then, the metaverse frenzy has not cooled down, and mainstream companies are increasingly developing strategies to fit NFTs and metaverse into their operations.
for instance, Wendy’s a fast-food restaurant chain filed trademark applications for Wendy’s, Frosty, Baconator, Wendyverse, and The Wendy’s Logo on April 6. These applications cover virtual foods and drinks, NFTs and digital tokens, stores with virtual goods, and online virtual worlds.
Financial services company Mastercard also filed 15 NFT and metaverse-related patent applications on April 4. The 15 applications were for Mastercard, Priceless, and the firm’s logo. These applications cover NFT-backed media, payment processing in the metaverse, marketplaces for digital goods and NFTs, and e-commerce transactions in the metaverse.
Credit : cryptoslate.com