The cryptocurrency industry is booming and its assets are increasingly popular, which has led some well-known high-end brands, including luxury watchmaker Rolex, to jump on the cryptocurrency bandwagon themselves.
In fact, Rolex has filed trademark applications related to cryptocurrencies, metaverse and non-fungible tokens (NFTs), according to the data. Published on by trademark and patent attorney Michael Kondoudis (The law firm of Michael E. Kondoudis) on November 7.
In particular, the luxury watchmaker’s branding application suggests plans to introduce NFTs, NFT-supported media, NFT markets, cryptographic keys and transactions, virtual goods auctions, as well as virtual cryptocurrency exchanges.
According to the documents, the trademark was filed with the United States Patent and Trademark Office (USPTO) on October 31 and covers “downloadable software for blockchain technology,” digital wallets, “online spaces for buyers and sellers of virtual products such as watches and watch parts “, product placements in virtual environments, etc.
The interest of luxury watchmakers in cryptocurrencies
Meanwhile, Rolex continues a long line of famous watch brands that have recognized the appeal of the cryptocurrency industry and implemented cryptocurrencies and blockchain technology in their products and operations.
In mid-May, Swiss watchmaker TAG Heuer announced it would accept crypto payments, including Bitcoin (BTC), Ethereum (ETH) and Dogecoin (DOGE) for online purchases on its US website, in partnership with the crypto payments provider. BitPay.
Two months later, she was joined by Breitling, which also partnered with BitPay to allow customers to purchase its wristwatches and bracelets using leading digital assets, as well as stablecoins including Binance USD. (BUSD), Dai (DAI), Gemini Dollar (GUSD). ), USDP and USD Coin (USDC).
Meanwhile, TAG Heuer has launched a smartwatch feature that transforms its Connected Caliber E4 product into an NFT viewer to allow customers to showcase their collection of digital assets with verified proof of ownership, while Hublot has launched 200 edition luxury watches. limited available for online purchase using your favorite crypto.
At the end of August, watchmaker Jacob & Co unveiled a brand new limited edition bitcoin-themed luxury watch, the first high-complication watch dedicated and inspired by the crypto space, as reported by Theinquirer.
Finally, it’s also worth noting that the months-long stock market crash in recent months hasn’t alienated high-end watchmakers away from cryptocurrencies, as TAG Heuer and Hublot have continued to accept cryptocurrencies as a form of payment during this difficult time.
However, the cryptocurrency crash has had some interesting consequences for the second-hand luxury watch market, which has led to an increase in the supply of high-profile pieces like the Rolex Daytona and Patek Nautilus 5711A.