Hermés, a luxury brand famous for its high-end accessories and one of the most exclusive items in fashion, has started to make moves into Web3. The company filed trademark applications covering NFTs (non-fungible tokens), cryptocurrencies, and Metaverse, an online virtual reality universe where users can explore content or games without any limitations on how much they want to!
The trademark covers downloadable software to view, store, and manage virtual goods, digital collectibles, cryptocurrencies, and NFTs "for use in online worlds," according to an August 26 filing with the United States Patent and Trademark Office (USPTO).
The company has filed trademarks for "retail store services featuring virtual goods" as well as fashion and trade shows in online environments that are primarily augmented or mixed reality.
The new trademark application comes months after Metabirkins founder Mason Rothschild was sued in January for allegedly utilizing the brand's Birkin name to generate money from sales and resales of his NFT Metabirkins collection.
It seems that Metaverse is not the only company wishing to protect itself from potential lawsuits. Rothschild also filed their own set of protection which includes intellectual property, crypto, and NFT-related products/tokens, in an effort to prevent any future legal issues arising out of its current business practices.
The luxury label is not the first, nor will it be the last, to make moves in the Metaverse.
Earlier this year, luxury brands such as Dolce & Gabbana, Etro, Tommy Hilfiger, Estée Lauder, and Elie Saab appeared at Decentraland's Metaverse Fashion Week, a four-day digital fashion event showcasing wearables on virtual runways.
The latest data from Dune Analytics reveals that leading brands, including Nike, Gucci, and others, have amassed $260 million in sales from NFTs.