Techspace - Ford Motor Company, an American car manufacturer is currently preparing for its journey into the Web 3.0 ecosystem through non-fungible tokens (NFTs) and metaverse.
🚨🚨FORD is making a big move into the Metaverse!— Mike Kondoudis (@KondoudisLaw) September 7, 2022
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
This news is spread after its application for 19 trademarks to the United States Patent and Trade Office (USPTO). Mike Kondoudis, a licensed trademark attorney tweeted on his Twitter on Wednesday, saying that the company has applied for 19 trademarks applications for its car brands, such as Mustang, Bronco, Lincoln, and the other brands related to the company. Various kinds of cars are applied for the trademarks, like virtual cars, trucks, vans, SUV, and even its clothing brands. Ford also submitted a proposal related to the NFT marketplace.
These applications were submitted on September 2 to the USPTO. Based on the USPTO statement, Ford is currently planning to create downloadable artwork, text, audio, and video, featuring its products like SUVs, cars, trucks, and vans. Those elements will be authenticated by NFTs.
The company will likely release a “downloadable virtual goods” and “computer programs” in the future, featuring the vehicle spare parts, accessories, and clothing that can be used in the metaverse aka virtual worlds. These features might be used in the online trade shows, both in virtual reality or augmented reality.
In addition, Ford Motors is also interested in building a website-based NFT marketplace. This marketplace will be the place to promote digital artworks of others. There will be an online retail store offering NFTs and digital collectibles.
The Metaverse expanding plan by Ford Motors comes after Ford Executive Chairman, Bill Ford, and CEO Jim Farley announced big lay-offs from the global workforce in order to lower the production’s cost.
Ford Motors is not the first automotive company that joined the Metaverse ecosystem. Previously, companies like Nissan, Toyota, and Hyundai also made their move into this virtual space. They have announced the plans to expand its business into metaverse. Moreover, luxury car brands like Bentley and Lamborghini already released their NFTs collection in the virtual space.