American car manufacturer Ford Motor Company is the latest car brand preparing to enter the NFT and Metaverse worlds. The unit has filed 19 trademark applications for its major car brands.
Trademark licensing attorney Mike Kondoudis of the U.S. Patent and Trade Office (USPTO) revealed in a tweet Wednesday that the company has filed a total of 19 trademark applications covering its car brands including Mustang, Bronco, Lincoln, Explorer and F-150 Lightning, among others.
🚨🚨FORD is making a big move into the Metaverse!
The company has filed 19 trademark applications for all of its major brands claiming plans for:
▶️ Virtual cars, trucks, vans, and clothing
▶️ Online stores for NFTs#NFT #Metaverse #Web3 #NFTs #Ford #Mustang #F150 #Fordtrucks pic.twitter.com/2JK2Nf9jO7
— Mike Kondoudis (@KondoudisLaw) September 7, 2022
According to USPTO documents filed by Ford on Sept. 2, the automaker plans to create downloadable works of art, text, audio and video for cars. , SUVs, and their trucks, will be validated by NFTs.
The company also revealed plans for downloadable electronic goods, namely computer programming featuring vehicle parts and accessories and clothing for use in “online virtual worlds,” including online trade shows conducted in virtual reality and augmented reality.
The company also intends to create a marketplace to promote “other people’s digital artwork” through a website, along with an “online retail store service featuring NFTs and digital collections.”
Ford’s decision to enter the Web3 space comes less than a month after Ford Executive Chairman Bill Ford and CEO Jim Farley announced staff cuts to reduce the company’s spending.
Ford isn’t the first car company to enter the Metaverse space.
Automotive companies like Nissan, Toyota, and Hyundai have announced plans to expand into the rapidly growing Metaverse space, while luxury automakers like Bentley and Lamborghini have launched NFT collections.