Swarovski, the renowned jewelry company, is embracing new horizons by entering the metaverse and non-fungible token (NFT) realm.
Swarovski’s recent trademark application, submitted to the United States Patent and Trademark Office (USPTO) on May 30, 2023, discloses its plans to provide virtual renditions of its precious stones, clothing, footwear, jewelry, virtual reality (VR) glasses, and NFT-verified media.
Trademark attorney Michael Kondoudis, specializing in Web3-related filings, recently shared the news about Swarovski’s trademark application.
This move by the jewelry giant follows a growing trend among prominent brands in the industry. Sterling Jewelers, in January 2023, expressed their interest in the metaverse and NFTs through trademark filings, while Harry Winston signaled a similar interest in December 2022.
Also, In August 2022, Tiffany & Co introduced “NFTiff,” a collection of 250 NFT passes that allowed CryptoPunks holders to mint and redeem them for a custom-designed pendant and an NFT digital artwork.
A lot of jewelry companies are venturing into the world of Web3 to enhance and enable customers with unique experiences; the advantages of blockchain, such as proving authenticity, traceability, and so on, solve many problems encountered in the real world by the companies in the field.