Hermes to enter the metaverse
One of the most well-known luxury brands in the world, Hermès, seems to have huge plans for the metaverse.
The company has submitted a trademark application that covers a variety of Web 3 actions, such as nonfungible tokens (NFTs), virtual runway shows, and virtual money. The trademarks are all connected to activities in “online virtual worlds,” according to the filing with the United States Patent and Trademark Office (USPTO).
It appears that Hermes is getting ready to follow in the footsteps of its counterparts and make a big statement in the metaverse. There are further trademarks for “retail store services containing virtual goods,” “offering an online marketplace for consumers and sellers of virtual goods,” and “fashion and trade events in online virtual, augmented, or mixed reality environments.”
The trademark is not surprising because they have already sued Mason Rothschild, the founder of Metabirkins, for allegedly using the brand name to benefit from his NFT “Metabirkins” line.
The artist Rothschild enjoyed great success with his line of Metabirkins bags, which sold for about 200 ETH ($790,000 at the time).
Hermes objected to the purportedly unlawful usage of its Birkin bag as an NFT design, and the company publicly criticized the line.
According to Hermes, they did not permit nor consent to the commercialization or creation of their Birkin bag by Mason Rothschild in the metaverse. These NFTs violate Hermes’ intellectual property and trademark rights and are an example of phony Hermes items in the metaverse.
Hermes said in a 47-page lawsuit against Rothschild that he used its brand name, Birkin, and added the word “Meta,” turning the collection into a total “rip-off.”
The Hermes trademarks make sense both from a legal and commercial perspective regarding the Metabirkins issue.
Indeed, as the world grows more virtual, the metaverse presents a plethora of options for well-known businesses to profit. The metaverse presents the possibility of an all-encompassing, immersive platform fueled by the trading of NFTs, whether it be for gaming, shopping, or socializing.
Because of NFTs, luxury brands have already experienced tremendous success.
Therefore, Hermes has now prepared the ground for an incredible entry into the Web3 world that will involve events in the metaverse, cryptocurrency, NFTs, and community tokens.
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