Ford to enter the Metaverse with virtual cars and NFTs

The company has filed a trademark application covering its next projects in the Metaverse and NFT space, a month after announcing major staff layoffs.

As it gets ready to enter the world of nonfungible tokens (NFTs) and the Metaverse, American automaker Ford Motor Company has submitted 19 trademark applications across its major automotive brands.

The business has submitted 19 trademark applications for its automotive brands, including Mustang, Bronco, Lincoln, Explorer, and F-150 Lightning, according to Mike Kondoudis, a registered trademark lawyer with the United States Patent and Trade Office (USPTO). A proposed online marketplace for NFTs as well as virtual representations of cars, trucks, vans, SUVs, and clothing for its enterprises are included in the trademark applications.

According to USPTO documents made on September 2 by the carmaker, Ford plans to create digital representations of its cars, SUVs, trucks, and vans that will be validated by NFTs.

The company also revealed plans for “downloadable virtual commodities” or “computer programs,” such as clothing, accessories, and car parts, for use in “online virtual worlds” like virtual and augmented reality trade shows. A website marketplace for “others’ digital artwork” and “online retail shop services including non-fungible tokens (NFTs) and digital collectibles” are also planned.

Ford decided to enter the Web3 market less than a month after CEO Jim Farley and Executive Chairman Bill Ford announced massive employee reductions from its global workforce.

Ford isn’t the first automaker to approach the Metaverse market. Nissan, Toyota, and Hyundai have all expressed an interest in joining the rapidly expanding Metaverse market, although the fact that luxury manufacturers like Bentley and Lamborghini have already begun to offer NFT collections.

About us:

NFT Labs is a web3 company exploring big ideas in community, utility and engagement to push the crypto, NFT and metaverse space forward. To learn how your organization can participate in the web3 revolution, write to us at hello@itsmyne.club.

We’re backed by leading blockchain institutions including Longhash Ventures, Antler, Oracles Investment Group, and Shima Capital among others. NFT Labs is also the issuer of the MYNE token ($MYNE), a BEP-20 utility token for Itsmyne and partner applications. MYNE serves as the gateway between traditional social media and blockchain-based social economies.

--

Fun NFT products for the world

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store