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 is pushing on the doors of the United States Patent and Trademark Office! In his September 6 tweet, intellectual property attorney Mike Kondoudis reveals the Statistics on trademark applications in the United Statesthat were filed for NFT, metaverse, web3 in general related products and services between January and August of this year.
Mike Kondoudis shared a graph advancing the figure of 3,899 requests US brands during these first eight months, an average of 487 monthly requests. March saw a record 604 requests.
The pessimistic narratives about cryptocurrencies, against the backdrop of this year’s bear markets, 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 trademark registration last year in its entirety.
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A dip in the web3 pushed by copiers and opportunists
By right means or do it! The controversies between some big brands and artists or sometimes opportunistic and unscrupulous people of the web3 have opened the eyes of some companies, so much so that the importance of protecting their names in these new virtual universes.
One such upheaval 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 published on OpenSea contained digital versions of Hermès’ Birkin bag.
Without adequate protection of their brands on the web3, companies can be overtaken by “entrepreneurs” who are a little too jaunty, who think they have found the right vein to exploit.
Fenesha Holmes and Reath Mohammed then filed trademark applications relating to the metaverse for Gucci and Prada in 2021. The United States Patent and Trademark Office (USPTO) rejected these applications, as the two people actually had, no connection with both companies.
Sony Music Entertainment appears in the list of American companies, which have recently made a deposit to bring their brand to the web3, with a view to launching a project that combines music and NFT.
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