The United States Patent and Trade Office (USPTO) licensed trademark attorney Mike Kondoudis revealed in a Sept. 7 tweet that the company had filed for 19 different car brands, including mustang Bronco Lincoln explorer, and F150 Lighting, among others. Ford's trademark applications cover a variety of products, including virtual cars and trucks. It also seeks permission to establish an online marketplace for NFTs.
Ford plans to produce downloadable artwork, text, audio, and video showing its cars, SUVs, trucks, and vans that will be validated by NFTs, according to USPTO paperwork filed on September 2.
The company also announced plans for downloadable virtual goods, including computer programs allowing players to buy vehicle parts, accessories, and clothing within online worlds, such as those found on VR/AR platforms.
The proposed platform will act as a marketplace for artwork and other items, where sellers can easily upload their products. Buyers are able to browse through various options before making purchases from those who have posted privately available goods on sale - this includes NFTs or any other kind of collectible.
Ford’s decision to enter the Web3 space comes less than a month after Ford Executive Chairman Bill and CEO Jim Farley announced massive staff cuts from its global workforce, as this will help them reduce their expenditure.
The automotive industry is expanding into new spaces, with car companies like Nissan and Toyota announcing plans for an entrance into the Metaverse. In contrast, luxury brands such as Bentley or Lamborghini have already introduced NFT collections on their websites.