Ford Plans to Enter the Metaverse with Virtual Cars and NFTs

Ford Plans to Enter the Metaverse with Virtual Cars and NFTs

Ford Motor Company is the latest auto manufacturer to file 19 trademark applications across its key car brands in preparation for its entry into the world of NFTs and the Metaverse.

Plans For Metaverse and NFT Industry

Mike Kondoudis, a United States Patent and Trade Office (USPTO) licensed trademark attorney, revealed in a tweet that Ford Motors had filed a total of 19 trademark applications.

Ford intends to offer downloadable artwork, text, music, and video displaying its automobiles, SUVs, trucks, and vans, which will be authenticated by NFTs, according to USPTO documents filed by the company.

The application reveals companies’ ambitions for digital spaces. The company mentions non-downloadable virtual automobiles, SUVs, trucks and vans, land vehicle parts and accessories, and clothing for use in virtual environments created for entertainment purposes.

Ford also plans to create a marketplace to promote the “digital artwork of others,” and provide online exhibitions via virtual reality and augmented reality.

In addition, Ford intends to create a marketplace to promote the “digital artwork of others” through a website, along with “online retail store services featuring non-fungible tokens (NFTs) and digital collectibles.”

On the Flipside

  • Ford is hardly the first car maker to move into the Metaverse realm. While premium automakers like Bentley and Lamborghini have already launched NFT collections, automakers including Nissan, Toyota, and Hyundai have indicated ambitions to enter the fast-expanding Metaverse market.
  •  Ford has decided to enter the Web3 space, less than a month after Ford Executive Chairman Bill Ford and CEO Jim Farley announced significant staff reductions from its global workforce to reduce company expenses.

Why You Should Care

Ford motors is one of the world’s biggest and oldest car manufacturing companies. Ford has a market cap of $61.99 billion.

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