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Multinational Corporations Continue to File Trademarks in Web3, NFTs, and Metaverse

As the digital world continues to expand, multinational corporations have been increasingly turning to trademarks to stake their claim in the realms of Web3, NFTs, and the metaverse. Despite the recent downturn in related markets, companies such as General Motors, Lacoste, and Walmart have been actively filing trademark applications for their brands and products.

In February of 2023, General Motors filed for two new trademark applications for their Chevrolet and Cadillac brands, which cover downloadable digital media files containing collectible artwork, text, audio, and video that have been authenticated as nonfungible tokens. Similarly, French clothing giant Lacoste filed five trademark applications for “CHAMPS-ELYSEES,” which detail plans for NFTs, crypto transaction software, virtual clothing, stores for virtual goods, and virtual real estate services.

Even larger retail corporations such as Walmart have been getting in on the action, filing trademark applications for the “SamsClub” name and logo, which include plans for NFTs, blockchain software, virtual reality healthcare, cryptocurrency trading, brokerage, and financial services.

But it’s not just these well-known brands that are filing trademarks. In fact, pet food firm Pedigree, insurance company Nationwide, Irish distillers Jameson, French fashion giant Yves Saint-Laurent, and even the National Geographic Society have all filed trademark applications in January alone, covering Web3, NFTs, the metaverse, and crypto-related products.

Despite the recent bear market, there has been a record number of trademark applications for NFTs, metaverse, and crypto-related products in 2022, according to intellectual property lawyers. This suggests that even though the markets may be volatile, companies are still willing to invest in the digital future and secure their place in it.

As the digital landscape continues to evolve, it’s clear that trademarks will play a critical role in defining and protecting brand identities in the realms of Web3, NFTs, and the metaverse. And with multinational corporations leading the way in filing for trademarks, it’s likely that smaller businesses and startups will follow suit in order to stay competitive and relevant in these emerging markets.

Nissan Expands Web3 Efforts with Trademarks and Metaverse Auto Sales

Nissan has become the latest car manufacturer to increase its Web3 efforts by filing four new Web3-related trademarks in the United States. The trademarks, filed with the United States Patent and Trademark Office (USPTO) on March 7, cover its Infiniti, Nismo, and Nissan brands. The filings reveal Nissan’s plans to create virtual goods such as clothes, cars, headgear, trading cards, toys, tickets, and a nonfungible token (NFT) marketplace for trading and minting NFTs. Additionally, the company has outlined plans for metaverse advertising services and other “entertainment services” covering online video, images, artwork, tickets, audio, sounds, music, and trading cards. Nissan also plans to create a website with information about its proposed NFTs and how they will work, as well as “non-downloadable computer software for use as a digital wallet.”

In addition to its Web3-related trademark filings, Nissan Japan announced on March 8 that it is conducting a three-month “demonstration experiment” of its virtual store “Nissan Hype Lab.” The virtual store allows customers to “study, consult, test drive and purchase Nissan vehicles” while in the metaverse. Customers can visit the virtual storefront “24 hours a day” via a PC or smartphone and can create their own customized avatars. During certain hours, customers can even interact with virtual sales staff. According to the announcement, customers can order the car and finalize purchase contracts through this virtual sales office. Nissan Japan plans to examine the possibility of new sales methods for cars through this trial, which runs from March 8 to June 30.

Nissan’s recent moves are in line with other car manufacturers, including General Motors and Ford, who have also been actively filing trademark applications for Web3, crypto, NFTs, and the metaverse. General Motors filed trademark applications covering its Chevrolet and Cadillac brands on Feb. 16, while Ford Motor Company filed 19 trademark applications across its major car brands in September 2022. According to trademark attorney Mike Kondoudis, the car brands’ filings signaled plans for NFT-backed media, online NFT marketplaces, digital wallets, NFT minting, trading, and storing software.

Despite the ongoing crypto winter and bear market, multinational corporations are still pushing forward with trademark applications covering Web3, crypto, NFTs, and the metaverse. Kondoudis said there were record numbers of trademark applications for NFTs, metaverse, and crypto-related products in 2022. As companies like Nissan continue to invest in Web3 and the metaverse, it is clear that they see the potential for these technologies to revolutionize not just the automotive industry, but many other industries as well.

Meta's Digital Assets Expansion: A Scrutiny by Maxine Waters

Congresswoman Maxine Waters, the Ranking Member of the United States House Financial Services Committee, questions Meta Platforms, Inc. (formerly Facebook) regarding its trademark applications indicative of a potential expansion in the digital assets ecosystem.

Waters’ concerns, conveyed in a letter dated January 22, 2024, to Meta’s CEO Mark Zuckerberg and COO Javier Olivan, stem from five trademark applications filed by Meta on March 18, 2022. Despite Meta’s assertion on October 12, 2023, that the company was not engaging in any digital assets work, these applications suggest otherwise. The committee is pressing Meta for clarity on any ongoing or planned blockchain or crypto-related projects.

The trademark applications cover a range of services in the crypto and blockchain sphere, including trading, exchange, payments, transfers, and the associated hardware and software infrastructure. A Notice of Allowance (NOA) for each filing indicates Meta’s applications meet registration requirements. Meta must now file a statement of use or request an extension within six months of the NOA issuance dates, which range from August 2023 to January 2024.

This inquiry isn’t Maxine Waters’ first involvement in scrutinizing tech giants’ forays into the digital assets sector. In 2019, Waters was vocal in her concerns over Meta’s Libra (later Diem) stablecoin project. Meta had announced its plans to develop the cryptocurrency and a corresponding digital wallet, Calibra. However, the project faced significant backlash from lawmakers and regulators, leading to its eventual discontinuation and the sale of its assets to Silvergate Bank in January 2022.

Waters’ letter questions the extent of Meta’s involvement in digital assets, including any plans to launch a crypto payments platform, the company’s research into stablecoins, partnerships with stablecoin projects, and the adoption of distributed ledger technology (DLT). The congresswoman is particularly concerned about the implications of big tech companies like Meta entering the digital assets space, given their access to vast amounts of user data and the lack of a federal framework for regulating such ventures.

In the broader context, Meta’s involvement in digital assets reflects a growing trend among tech giants exploring blockchain and cryptocurrency as potential new business avenues. However, this expansion raises critical questions about user privacy, data security, regulatory compliance, and the impact on traditional financial systems.