Rolex, the British-founded Swiss luxury watch designer and manufacturer headquartered in Geneva, Switzerland, has submitted a trademark application indicating its ambition to enter the realm of non-fungible tokens (NFTs) and the metaverse.
According to the trademark application, which was filed with the USPTO on October 31, the company intends to provide:
- Digital files verified by NFTs;
- Online auction services for virtual objects, such as watches, art objects, digital collectibles, and NFTs;
- Virtual interactive auctions;
- Online spaces for buyers and sellers of virtual products.
The news was tweeted by trademark attorney Michael Kondoudis.
Luxury watchmaker #ROLEX has filed a trademark application claiming plans for:— Mike Kondoudis (@KondoudisLaw) November 7, 2022
⌚️ NFTs + NFT-backed media + NFT marketplaces
⌚️ Crypto keys and transactions
⌚️ Virtual goods auctions
⌚️ Virtual and cryptocurrency exchange + transfer#NFTs #Metaverse #Crypto #Web3 #Perpetual pic.twitter.com/J8C93Qcybj
The watch industry, particularly the luxury segment, has been heavily active in Web3:
- in March, Jacob & Co. announced the release of “Astronomia Metaverso,” an NFT collection of luxury watches inspired by the planets of our solar system.
- In June, Frederique Constant launched 888 NFT watches that feature different cities and accompanying time zones, which sold out in less than 48 hours.
- In June, Bulgari unveiled its new metaverse concept and debuts the world’s thinnest mechanical watch linking it to an NFT.
- Swiss luxury watchmaker TAG Heuer introduced a smartwatch capable of displaying NFTs and linking to crypto wallets.
- Last week, Breitling presented its new Super Chronomat Automatic 38 Origins, which comes with an NFT to track the watch’s chain of custody.