One of the world’s most-watched sporting events, the English Premier League (EPL) or just the Premier League, has recently filed 02 new Trademark Applications for crypto. The applications have been filed with the US Patent and Trademark Office (USPTO), marking the widely recognized football league’s foray into the Metaverse.
Through a tweet on 6th June 2022, Michael Kondoudis, a licensed Trademark Attorney, officially announced the said trademark applications and gave a few details about them. Further info and details were later given in an official press release.
In the press release, Kondoudis said that the Premier League is watched by more than a billion people on a regular basis, which is why the value attached to the brand is substantial. He further mentioned that the Trademark Filings in question portray a logical step to safeguard the brand in the present economy, including crypto and virtual elements, and the future virtual economy in the Metaverse.
The first trademark application is for the unique logo and name featuring a lion donning a crown. The second one is for EPL’s ‘loving cup trophy’ sporting a crown and golden lions on every handle.
The trademark applications submitted with the USPTO also include licenses for digital collectibles and tokens, digital asset trading, digital art, virtual apparel, exchange services, and a marketplace for hosting such digital assets online.
The trademark applications are pretty detailed and explicitly specify the scope of every license. They consist of everything ranging from the creation of all the listed assets to their marketing and sale. Additionally, EPL has sought permission in place to use the said trademarks on virtual, augmented, and mixed reality software.
Lately, multiple brands have ventured into the Metaverse to offer various benefits to consumers, such as unique experiences, travel opportunities, activities, exclusive access to clubs, etc. Without any doubt, sports enthusiasts have always loved owning collectibles, and with their digitization, the reach is expected to go beyond and broaden further.
In the past 02 years, NFTs (Non-Fungible Tokens) have also picked up steam. According to a news release in March, sports NFTs have poised to rake in over $2 billion from only transactions this year. NFTs are gradually recovering, even though the market has not been doing very well recently due to the endless crypto winter. As per the data recorded by experts, NFT sales in Q1 2022 touched $12.13 billion, which puts it back on track to surpass the $20 billion mark recorded in 2021.
NFTs are becoming exceedingly popular among sports enthusiasts as well-known football clubs have been embracing cryptocurrencies and blockchain technology. In the press release, Kondoudis said that the number of trademark applications filed from the professional sports category for virtual services and products is expected to increase in the coming 12 months as brands and businesses are coming forward to appreciate the need for Trademark Protection in the Metaverse. For more visit: https://www.trademarkmaldives.com
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