Ford Motor Company is the latest car company to get ready to join the world of nonfungible tokens (NFTs) and the Metaverse. The company has filed 19 trademark applications for its major car brands.
Mike Kondoudis, a registered trademark attorney with the United States Patent and Trade Office (USPTO), tweeted on Wednesday that the company had filed 19 trademark applications for its car brands, including Mustang, Bronco, Lincoln, Explorer, and F-150 Lightning.
The trademark applications include virtual cars, trucks, vans, SUVs, and clothing for its brands, as well as a proposed online market for NFTs.
According to documents filed with the USPTO on September 2, Ford plans to make artwork, text, audio, and video that can be downloaded and will feature its cars, SUVs, trucks, and vans. These will be verified by NFTs.
The company also talked about its plans for “downloadable virtual goods,” which are “computer programmes” with parts and accessories for cars and clothes that can be used in “online virtual worlds,” such as trade shows held in virtual reality and augmented reality.
There are also plans to make a website where people can sell their “digital artwork,” as well as “online retail store services with non-fungible tokens (NFTs) and digital collectibles.”
Ford’s decision to join the Web3 space comes less than a month after Ford Executive Chairman Bill Ford and CEO Jim Farley announced that the company would lay off a lot of people around the world to cut costs.
Ford is not the first car company to move into the Metaverse space.
Automakers like Nissan, Toyota, and Hyundai have said they want to expand into the Metaverse, which is growing quickly. Luxury car makers like Bentley and Lamborghini have already released NFT collections.
