Ford Automobiles to Venture Into Metaverse With NFTs, Files for Trademarks

Ford Motor Company has filed for 19 trademark applications, looking to venture into the NFT sector. NFTs or non-fungible tokens are blockchain-based digital collectibles, inspired by real-life elements like brands, artworks, and even people. In recent times, holding and investing in NFTs have emerged as a new-age trend, popularised with the likes of celebrities like Snoop Dogg, Eminem, Amitabh Bachchan, and Jimmy Fallon, among others. Ford has submitted these applications with the United States Patent and Trade Office (USPTO).

Mike Kondoudis, an attorney lawyer with the USPTO, has shared screenshots of Ford's filings on Twitter. The car-maker may soon launch virtual avatars of its famous brands, including Mustang, Bronco, Lincoln, Explorer, and F-150 Lightning, among others.

The company is also looking to establish online retail store services featuring NFTs.

Other prominent brands in the automobile industry are also experimenting with digital collectibles.

Earlier in March, for instance, Mahindra and Mahindra marked its entry into the NFT space with the release of its first set of digital collectables, joining the likes of MG Motor India in the automotive space.

In December 2021, Ferrari also signed a deal with blockchain firm Velas to develop digital products for loyalists.

This year, so far, number of NFT applications have surpassed those submitted in the crypto, Web3, and metaverse arenas. By this time, over 5,800 applications and patents concerning NFTs have already made it to the USPTO. In 2021, this number stood at 2,087, Kondoulis had claimed recently.