Wed, December 07, 2022

Ford Enters the Metaverse

Ford logo, vehicle

A month after the business announced significant personnel reductions, it filed a trademark application covering its future initiatives in the Metaverse and NFT areas.

Mike Kondoudis, a trademark lawyer accredited by the United States Patent and Trade Office (USPTO), revealed in a tweet on September 7 that the business has submitted a total of 19 trademark applications for its automotive brands, including Mustang, Bronco, Lincoln, Explorer, and F-150 Lightning. The trademark applications include a projected online marketplace for NFTs as well as virtual versions of automobiles, trucks, vans, SUVs, and clothes for its businesses.

Here Is What You’ll See from Ford Soon

Ford intends to produce downloadable images, text, audio, and video of its automobiles, SUVs, trucks, and vans that will be verified by NFTs, according to USPTO filings submitted by Ford on September 2. The business also disclosed plans for “downloadable virtual commodities,” or “computer programs,” that would include apparel, accessories, and components for vehicles for usage in “online virtual environments,” such as virtual and augmented reality trade exhibitions.

Additionally, there are plans to develop an online marketplace for others’ digital artwork as well as online retail shop services incorporating non-fungible tokens (NFTs) and digital collectibles.

Less than a month after Ford Executive Chairman Bill Ford and CEO Jim Farley announced significant personnel reductions from its global workforce to decrease corporate expenses, Ford decided to enter the Web3 area. Ford isn’t the first automaker to enter the Metaverse market.

Ford Motor Company, an American automaker, has filed 19 trademark applications across its key automobile brands as it prepares to enter the realm of non-fungible tokens (NFTs) and the Metaverse. Automobile firms including Nissan, Toyota, and Hyundai have stated ambitions to expand into the fast-emerging Metaverse market, while luxury vehicle makers such as Bentley and Lamborghini have already rolled out NFT collections.

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