As the Metaverse slowly becomes a reality, many artists, institutions and companies are developing Non-fungible tokens to help them communicate with their customers in the virtual reality world. The DeLorean Motor Company is now among the companies to enter the space.
The company is best known for its DMC DeLorean, a vehicle used as a time machine in the Back to the Future film trilogy. The DeLorean Motor Company has now filed for two trademarks with the U.S Patent and Trademark Office (USPTO) for DeLorean and DMC. This application was filed on May 30.
The news was announced by Michael Kondoudis, a licensed trademark lawyer, on Twitter on June 3. He noted that the applications relayed the company’s plans for NFT-backed media, stores offering virtual cars, and virtual vehicles.
Companies that have ventured into the Metaverse
The DeLorean Motor Company is one of the many to try cashing in on the growing popularity of the Metaverse. Other prominent players include Meta Platforms Inc (NASDAQ: FB), even changing its name from Facebook to symbolise its new direction. Celebrities like Martha Stewart have also launched their own NFTs. Furthermore, companies like Apple Inc (NASDAQ: AAPL) are creating virtual reality headsets for the Metaverse.
McLaren Automotive is another car company that has taken an interest in the Metaverse. The British luxury automotive maker launched the McLaren Special Operations Lab in April. This department introduced an exclusively online digital community signifying the company’s intent to join the Metaverse space.
Kevin Durant is the latest celebrity to venture into NFTs
One big celebrity who has recently joined the Metaverse is Kevin Durant. Durant plays basketball for the Brooklyn Nets of the National Basketball Association. This is unlikely to be the last celebrity filing for an NFT trademark as the Metaverse has become increasingly popular.
Finbold conducted a study on the Metaverse that found that applications for NFT trademarks increased 400 times in 2021. The highest number of applications was in December 2021. This figure was still high in 2022, with the amount of NFTs traded reaching over $54 billion by April.
The CMO at Gate.io, Marie Tatibouet, believes that the value of NFTs will soon surpass that of Bitcoin, which is currently one of the most valuable cryptocurrency assets.