NFT and metaverse: the brand war has begun
Protection 3.0 – The number of trademark applications related to non-fungible tokens (NFTs) and metaverse in the first eight months of this year, is not far from double that recorded in 2021.
Applications for NFT and metaverse brands are exploding
It’s jostling at the doors of the US Patent and Trademark Office! In his tweet of September 6, intellectual property lawyer Mike Kondoudis reveals the US trademark application statisticswhich were filed for products and services related to NFTs, metaverse, web3 in general, between January and August of this year.
Mike Kondoudis shared a graph that advances the figure of 3,899 requests American brands during these first eight months, an average of 487 monthly requests. March saw a record 604 filings.
The pessimistic narratives about cryptocurrencies, against the backdrop of bear markets this year, have not deterred companies from taking their first steps or strengthening their presence in NFTs and metaverses. The number of requests for the first eight months far exceeded the 2,087 requests last year’s trademark registration in its entirety.
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A plunge into web3 boosted by copiers and opportunists
By fair means or foul ! The disputes between certain major brands and artists or sometimes opportunistic and unscrupulous people on the web3 have opened the eyes of some companies, as to the importance of protecting their names in these new virtual universes.
One of these shake-ups concerns the Hermès case against the creator of Metabirkin NFT, Mason Rotherschild. The French luxury fashion brand last year filed a lawsuit against Mason Rotherschild, whose collection posted on OpenSea contained digital versions of Hermès’ Birkin bag.
Without adequate protection of their brands in the web3, companies can be overtaken by “entrepreneurs” who are a little too cheeky, who think they have found the right vein to exploit.
Fenesha Holmes and Reath Mohammed had thus filed trademark applications related to the metaverse for Gucci and Prada in 2021. The United States Patent and Trademark Office (USPTO) rejected these applications, since the two people had in reality, no link with both companies.
Sony Music Entertainment appears in the list of American companies, which recently made a deposit to bring its brand to the web3, with a view to launching a project combining music and NFT.
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