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.
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