Famous condom company Durex appears poised to enter the metaverse and NFT industry, after its recent submission of a trademark application.
Safe Sex in the Metaverse?
On July 29th, 2022, licensed United States Patent and Trademark Office (USPTO) trademark attorney Mike Kondoudis, tweeted that the owner of Durex had filed a trademark application involving NFTs and cryptocurrencies.
Durex has yet to provide any specific details as to when or how it will make its first foray into the metaverse and NFT sector. However, the company’s patent application outlined aspects of cryptocurrency mining, virtual condoms, cryptocurrencies, NFTs, downloadable media files, and financial services with cryptocurrencies.
Safe sex in the Metaverse?The owner of #DUREX has filed a trademark application for: Virtual condoms Cryptocurrency mining Cryptocurrency + Currency trading NFTs + NFT-backed multimedia Virtual currency financial services#NFTs #Metaverse #Web3 #Crypto #DeFi pic.twitter.com/5zJLIWrQIaMore Players Entering the Metaverse— Mike Kondoudis (@KondoudisLaw) July 29, 2022
Medium and large-sized businesses have become increasingly interested in the metaverse in recent months. So far in 2022, more than 3,300 patents related to the metaverse have registered with the USPTO by brands worldwide.
Among the most popular brands to have taken steps to enter the metaverse are such companies as NIKE, Stella Artois, Gucci, and Louis Vuitton.
The XFL, a minor professional football league in the United States, recently submitted a trademark application for the name “XFL”, indicating that it has plans to enter the metaverse and the world of non-fungible tokens (NFTs).
Additionally, the official trademark filing shows that the business intends to include an NFT marketplace, along with virtual goods and experiences, in its future plans.
The Professional Golfers’ Association of America (PGA), which recently disclosed that it is finalizing agreements with Sorare and Autograph to launch golf NFTs, also submitted a new Web 3.0 trademark application for its logo.
On the Flipside
The metaverse is still at the stage of conceptualization. While many big players in the tech industry are trying to define and create a foundation for the metaverse, skeptics warn that there is no clear way to determine in which direction the metaverse will develop.
Why You Should Care
According to Verified Market Research, the metaverse market size was valued at $27.21 billion USD in 2020, and is projected to reach $824.53 billion by 2030. it is no surprise then that businesses are scrambling to expand their market potential into the digital world.
Find out more about blockchain’s potential in intimacy:
Sex-to-Earn Economy: an Unexpected Evolution of Move-to-Earn and Play-to-Earn
For more on the latest metaverse developments, check out:
Top 10 Metaverses to Keep an Eye on in 2022