Rolex Is Taking Its Luxury Watches Into The Metaverse
Photo 135267943 © Anurak Anachai | Dreamstime.com
If the price of a real-life, brand-new Rolex is too extravagant, might you be interested in a Rolex NFT or digital watch instead?
As spotted by trademark and patent attorney Michael Kondoudis, the Swiss luxury watchmaker has filed a trademark application to be granted sole rights to launch non-fungible tokens, virtual goods, and virtual goods auctions in the metaverse.
The filing, submitted to the US Patent and Trademark Office (USPTO) on October 31, details that Rolex could introduce digital collectibles, downloadable software, virtual currencies, blockchain technologies, and “online auction services for virtual objects such as watches [and] art objects,” among several other examples, in the digital sphere.
Luxury watchmaker #ROLEX has filed a trademark application claiming plans for:
— Mike Kondoudis (@KondoudisLaw) November 7, 2022
âŒšï¸ NFTs + NFT-backed media + NFT marketplaces
âŒšï¸ Crypto keys and transactions
âŒšï¸ Virtual goods auctions
âŒšï¸ Virtual and cryptocurrency exchange + transfer#NFTs #Metaverse #Crypto #Web3 #Perpetual pic.twitter.com/J8C93Qcybj
This is just the beginning of the brand’s foray in Web3; Rolex has not shared official details about how it will expand into the metaverse. It could, in fact, start small by dabbling in product placements in virtual environments, which is one of the scenarios suggested in its documentation.
By filing for protection, Rolex is first and foremost safeguarding its watch designs from being recreated by third parties and sold in the metaverse. We’ve seen this happen with the MetaBirkins NFTs, a series of non-affiliated Birkin-like digital artworks that were eventually contested by Hermès.
Given the volatility of the crypto world, will collectors return for seconds—nay, minutes—to accessorize their avatars with virtual watches? Only time will tell, truly.
[via Kitco and Finbold, cover photo 135267943 © Anurak Anachai | Dreamstime.com]
