“A guy made $4000 a week with a virtual gas station with an NFT in a game world. That’s more than a real gas station profit”
“Multinational luxury fashion designer Versace has become the latest brand to leap into the metaverse after filing a trademark application for virtual goods and NFTs”
Wondering what these headlines are about?
Welcome to the future!
The world of “Virtual Reality” or “Augmented Reality”!
Still confused, let’s first try and understand what “Augmented reality” or “Virtual reality” even means and how all of this is related to Trademarks.
Virtual Reality:
Remember in your childhood when you played video games? That imaginative and creative world has now come to life! Yes, virtual reality is a computer-generated three-dimensional reality that appears to be real, giving the user an immersive experience.
VR and Trademark:
In 2021, Facebook launched ‘Meta’ for its user to experience the fascinating world of Virtual Reality. Furthermore, it is creating a new space for business and trade. It offers a reach to a wider and more diverse audience to businesses.
Gauging the massive potential of VR, brands started launching themselves in this space beginning with getting their trademark registered in the virtual space. Nike filed several trademarks in 2021 to sell virtual clothes and sneakers.
Experts estimate that by 2023, metaverse (a form of VR) is expected to be worth $800 billion market. With such statistics, no brand would want to miss this opportunity.
The question remains, what should you do? Well, if you have a business, make sure to apply for trademark registration and secure your brand name and logo on an upcoming giant market for the trade of goods and even services.
