Luxury Watchmaker Rolex Files Applications for Metaverse, NFT Trademarks

  • luxury watch brand Rolex has filed for NFT and metaverse trademark applications.
  • Rolex is keen on introducing NFTs as well as NFT-backed content and a dedicated online space that facilitates the selling and purchasing of “virtual products such as watches and watch parts.”

Luxury watchmaker brand Rolex is now joining the growing NFT metaverse bandwagon by filing for trademarks related to cryptocurrencies, NFTs, and the Metaverse.

Rolex Set To Explore NFTs And The Metaverse

Michael Kondoudis, a leading trademark and patent attorney, took to Twitter to reveal new details concerning Rolex, the prestigious luxury watchmaker company.

Koundoudis tweeted that Rolex has filed trademark applications related to NFTs and Metaverse. As per additional details, Rolex will soon introduce blockchain-based products, primarily NFTs, with an intention to capitalise on current crypto market trends.

The Rolex application further states that the luxury watchmaker is looking forward to exploring “digital collectibles and non-fungible tokens,” including launching NFT-backed content, an NFT marketplace, and a virtual and cryptocurrency exchange.

In addition, the application also sheds light on Rolex’s plan to introduce online auction services for digital collectibles, such as watches, art objects, digital collectibles, and NFTs. The luxury watchmaker giant is also interested in setting up “online spaces for buyers and sellers of virtual products such as watches and watch parts.”

As part of Rolex’s virtual expansion, the luxe watchmaker will also pursue marketing through product placements in online games, which has emerged as a lucrative digital extension offering great profits and mainstream adoption.

The data from official trademark applications reveals the filings were initially registered on October 31st with the United States Patent and Trademark Office (USPTO). The documents also unveiled Rolex’s interest in exploring “virtual currency exchange transactions,” as well as electronic transfers of currencies and virtual currencies and services managing assets in digital currencies.

Luxury Brands in the Metaverse

The growing metaversal pursuits in the Web3 space have recently become a new area for companies to explore and extract profits from. Several companies, including Rolex, Burberry, Gucci, and Tag Heuer, have become some of the latest brands to have joined the growing NFT/Metaverse bandwagon.

Back in May, Tag Heuer also announced that the company is all set to embrace payments in crypto. Moreover, Hublot, a luxury watchmaker company, recently launched two NFTs in collaboration with Japanese NFT artist Takashi Murakami.

“It’s about enriching and surprising our communities. It’s a digital passport for your watches, a way to personalise the relationship with our customers and give them regular information about events and products in a dedicated spot.” Panerai CEO Jean-Marc Pontroué told SCMP

Image: Nathan Aguirre/Unsplash

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