U.S. Markets closed
  • S&P 500

    +122.48 (+3.09%)
  • Dow 30

    +737.24 (+2.18%)
  • Nasdaq

    +484.22 (+4.41%)
  • Russell 2000

    +50.03 (+2.72%)
  • Crude Oil

    +2.29 (+2.93%)
  • Gold

    +19.20 (+1.09%)
  • Silver

    +0.96 (+4.47%)

    +0.0072 (+0.6973%)
  • 10-Yr Bond

    -0.0450 (-1.20%)
  • Vix

    -1.31 (-5.98%)

    +0.0103 (+0.8642%)

    -0.5870 (-0.4234%)

    +616.59 (+3.74%)
  • CMC Crypto 200

    +5.37 (+1.34%)
  • FTSE 100

    +61.05 (+0.81%)
  • Nikkei 225

    -58.85 (-0.21%)

World’s Largest Courier Company, UPS Plans on Entering the Metaverse

Key Insights:

  • United Parcel Service (UPS) filed multiple Metaverse and NFT related trademark applications.

  • UPS’ Metaverse filings will set a precedent for similar applications from other shipping and logistics brands.

  • Metaverse, at this point, has just become a medium of marketing for every brand & company.

As revealed by DC-based NFT trademark attorney Michael Kondoudis, the United Parcel Service (UPS) is preparing to establish a Metaverse presence. The move will bolster the already strong reach the company has in the world, to the virtual world as well.

Parcels in the Metaverse

The trademark filings range from basic NFT and Metaverse goods to creating a new network of shipping and deliveries as well. Although only six filings have been discovered, these six filings include goods and services such as:-

  • NFTs and Crypto-collectibles.

  • NFT backed multimedia.

  • Virtual retail shipping and delivery.

  • Virtual clothing, packages, vehicles, airplanes, and sports collectibles.

  • Marketplaces for digital goods and NFT backed media.

  • Retail stores featuring virtual goods.

According to Kondoudis, the 114-year-old company is taking these steps to protect its “UPS” brand, which is why these filings hold a lot of value. Thus through these filings, the company was preparing to dominate the virtual economy and become a major player in this space. Adding to the same, he said,

“We expect the number of trademark filings for NFT and virtual products and services from the shipping, logistics, and package delivery sector to increase in the next 12 months as brands come to appreciate the need for protection in the Metaverse.”

This is what the new trend is, and it’s alluring companies all over the globe to follow it or be outdated.

The Metaverse Dillemma

In the last few weeks, more companies have filed Metaverse trademarks applications than one would expect, and these companies aren’t limited to just one sector either.

Brands ranging from fashion to technology and music and fast food companies have been quick to file their trademarks in the Metaverse so that when the time comes, they will be equipped to establish their presence.

Last month KFC, Pizza Hut, and Taco Bell followed similar plans and set foot in the Metaverse. The month before that, McDonald’s did the same thing as well.

At the same time, the New York Stock Exchange and Victoria’s Secret too announced their intentions by filing for similar trademarks. And just yesterday, FXEmpire reported on MasterCard repeating this strategy for itself.

Thus, finding a pattern in these filings is pointless. The only driving factor behind these decisions is creating their brands’ presence in the quickly emerging virtual world.

The Metaverse hype is growing by the day, and companies are treating it as a marketing strategy, but whether or not it will be a long-term success is yet to be known since the space is still in its early stages.

This article was originally posted on FX Empire