NFT trademark filings by companies aren’t just a marketing stunt. According to a trademark lawyer, they have to use what’s in the application.
In this year, the supporters of digital currency would better be concerned about the application of non-bank tokens (NFT) and metauniverse concept trademarks, which is also the "reliable data signal" of future application planning.
Michael Kondoudis, an intellectual property lawyer, said in an interview with CoinTelegram that although many people may think that large enterprises are just climbing the NFT fashion trend and taking it as a new thing, it is "unlikely" to register trademarks in the United States and are not prepared to use them.
Although the cost of trademark application is low, and the cost of each type of product/service varies from $250 to $350, Kondoudis explained that when a company submits a trademark application, it requires an oath to declare that the applicant will have the intention of "sincere" and will use the trademark to list products and services in the near future.
However, he pointed out that this kind of application "passed the substantive examination", which may be rejected for some legal, regulatory and technical reasons.
In 2023, a series of large enterprises had already applied for NFT-related trademark applications. Kondoudis has been active on Twitter, causing public concern.
Trademark development trend since 2023
Kondoudis pointed out that "the first development trend in 2023" is that liquor enterprises apply for NFT trademark.
He pointed out that now some famous Baijiu brands have submitted a new application, such as Absolut Vodka, Chivas Regal whisky and Malibu Rum.
On January 18, Irish Distillers International, a Jameson Irish whisky producer, was a brand new liquor company applying for the NFT trademark.
Kondoudis indicated that in 2022, many industries applied for NFT trademarks, including grocery stores, pet food brands, professional teams and open games, big cities, gambling halls, and even mobile game performances.
In his view, a large number of records have proved that NFT and the concept of metauniverse have received high attention from "American enterprises"
NFT patents bring benefits to the company's development
Kondoudis firmly believes that customers will see the near future of the enterprise and take action on NFT patents, and points out that:
"This trademark application is a reliable data signal for the future plans to apply trademarks for the products and services listed in the application."
Ralph Kalsi, CEO of blockchain technology in Australia, said in an interview with CoinTelegram that entering the NFT patent industry could bring great growth opportunities for enterprises.
Karsi indicated that with the popularity of NFT again, enterprises with patents in this field are likely to grow by authorizing their technology or developing their own products and services based on NFT.
In his view, the NFT patent industry is a "promising industry" that can establish a company as a manager by becoming an early adopter of NFT technology.
He added that in the early stage of NFT, it is beneficial to have relevant patents, because it can provide core competitiveness and prevent others from applying "similar technology" without permission
According to the article published by Kondoudis on January 5, the number of NFT-related applications in 2022 was 7746, an increase of nearly 260% over 2021.
In another tweet on the same day, he added that there were 5850 applications related to metaverse last year, an increase of nearly 206% over 2021.