US-Based international logistics firm United Parcel Service (UPS) declares that it wants to enter the metaverse. The news filters in via a Twitter post this morning by Mike Kondoudis, a US lawyer specializing in NFT patents.
Kondoudis revealed that the company submitted recent applications to register patents under the auspices of the United Parcel Service. The patent applications include their symbol and two other intellectual properties.
According to the lawyer, UPS filed the applications with the relevant patent board in the country last Tuesday. Mike also added that the filings included digital products and services, like NFTs.
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United Parcel Service wants to offer non-fugitible tokens and other cryptocurrency assets. Mike affirmed that the company’s global reach conferred significance to its trademarks, referring to UPS’ plans for the metaverse. The applications, Mike adds, would further protect the brand.
Towards Leading the Metaverse Space
Moreover, Mike says that UPS’ moves to join the metaverse would prepare it for the virtual economy. He also believes that the service firm gradually moves toward becoming a leader in the virtual world of NFTs and metaverse offerings.
Kondoudis also noted that UPS’ display of faith in metaverse’s potential could trigger a string of related filings from the logistics sector. The attorney predicts that these triggered developments will increase within one year as other similar brands see the necessity of finding security in the metaverse.
More Organizations Keep Advancing towards the Metaverse
Many mainstream organizations have continued to advance toward digital offerings like non-fugitible tokens and the metaverse. Samsung is one of the established firms which have set up offerings in the space.
Another mainstream firm that recently followed the paths of Samsung and Disney is Mastercard, a global financial services firm based in New York. On the 4th of April, Mastercard submitted patent applications for 15 offerings, including digital services, the company’s symbol, and NFT-powered media.
Twitter updates from Mike Kondoudis reveal that firms with a total capital base of slightly over $1 trillion have submitted NFT and metaverse-related filings in 2022 alone. Including Meta among those firms would raise it to nearly $2 trillion.
There are nearly two thousand applications related to non-fungible tokens this year, already more than the numbers from the entire 2021. Other renowned corporations apart from Meta show intentions of safeguarding their intellectual properties by joining the metaverse.
Food manufacturing brands are applying for permission to provide digital restaurants and meals. Typically, such meals help rejuvenate players or serve as bonuses inside games. Clothing lines are also finding their way into the digital world. Virtual skins already reportedly have a market capitalization of about 40 billion USD.
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The general trend sees different brands applying to put their colors and symbols on the digital world. WWE, Monster, Chevron, Victoria’s Secret, Mcdonald’s, and Wrangler are some other firms joining the trend.
These companies certainly aren’t just registering their trademarks in the metaverse to protect their intellectual property rights. While some companies file as a legal exercise, others certainly have different motivations.