Automaker BMW apparently wants to get more involved in the Metaverse and show its presence there. As of a Posting on Twitter by trademark attorney Mike Kondoudis, the company has secured the rights to use the logos, media, and 3D graphics of the virtual vehicles, apparel, and footwear branded BMW in the Metaverse.
BMW lands in the metaverse!
The company has applied for the registration of its logo for:
▶️ NFT authenticated media + files
▶️ Virtual vehicles + clothes + shoes
▶️ Virtual vehicle + apparel retail stores
▶️ Virtual environments
… and more!#NFT #metaverse #Web3 #BMW pic.twitter.com/huO0RkiGWz— Mike Kondoudis (@KondoudisLaw) November 30, 2022
Kondoudis is a well-known trademark attorney in the United States and licensed by the USPTO (United States Patent and Trademark Office). As an industry expert, he frequently shares information about US Web3 trademark filings on Twitter.
In the announcement, BMW outlined plans to expand existing brand and product representations as collectibles in the form of non-fungible tokens (NFTs), for example to offer virtual clothing for online gaming. and virtual environments.
Collectibles for virtual worlds and online games
Even though prices on the NFT collectibles market have dropped drastically in recent months, corporate interest in this new up-and-coming market doesn’t seem to be stopping. Trademark applications filed for NFTs increased from 2,142 in 2021 to 6,855 at the end of October 2022, as Cointelegraph previously reported.
The desire of many companies to use NFTs as a technology and to gain experience in this field must be separated from speculative trading within a largely unregulated market. Unlike cryptocurrencies, NFTs cannot simply be traded with each other. Their price depends on demand. It is difficult to predict how the value of trading cards or entire collections will develop.
But this is also where the appeal of this new form of investment lies. Premium segment automakers, in particular, see great potential in brand presence in virtual worlds, where exclusivity is part of the brand image. Porsche also intends to significantly increase its commitment to Web3 in the future. In a statement, the sports car manufacturer announced that it will integrate the potential of blockchain technology into existing and future processes and solutions.
Lamborghini commissioned Swiss artist Fabian Oefner to design his own NFT collection.
NFT’s desire is not limited to high-end automotive suppliers. Hyundai is also involved in the community NFT market.
NFTs are apparently now much more than a gimmick for the struggling automotive industry. As a commitment to innovation in both the real world and the metaverse, no automaker can afford not to be a part of it.