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Facebook has rebranded itself as Meta. The giant in the technology sector has introduced itself as Metaverse. Therefore now the Metaverse will offer the e-commerce experience to its users in 3 dimensions.
It is one of the fastest growing things in the digital environment and thus a lot of firms and companies are taking its benefits. The companies intend to explore the endless market opportunities available in the digital world.
Let us first understand what Metaverse is, it is a network of 3D. It centrally connected the social connection of the digital world. It has a simulated digital environment that blends the augmented reality Blockchain, virtual reality, and social media platforms. It is done to build a richer user interaction that will resemble the real world.
Digital Assets like Cryptocurrency and non-fungible tokens also known as NFT are being traded in a virtual world. A lot of suspicions are present among the businesses, people, and individuals related to the sale and supply.
Therefore, a great number of new applications are created in the UAE to prevent misconceptions. Henceforth, more and more registration of trademarks takes place under the United States Patent and Trademark Office (USPTO).
One such example is Mcdonald’s which intends to join Metaverse. They will have a virtual restaurant that will deliver as well. Therefore, today they have 10 Metaverse-related patent applications. This will enable them to serve online to its customers. The trading takes place against the NFTs.
Read More: Law Firms in Dubai deals in Crypto Services
In recent years many more prominent and world-class brand names have joined the bandwagon. They have made a bold move to enter the Metaverse. Let us discuss some of the renowned brands who have stepped into the Meta world.
Coca-Cola has joined hands with Tafi 3 D artists to manage a virtual ‘loot box. It was auctioned in Mid2021. This raised around $1 million. The winner grabbed the real-life coca cola refrigerator and digital clothing on platforms like Ethereum and Decentraland.
Gucci and Roblox have also come together in the Meta world. A 2-week art project was designed to create brand awareness among the youth for Robleo gaming. Therefore, avatars were dressed in digital Gucci merchandise before strolling around the themed areas. The avatars were specifically designed to absorb aspects from various regions in the virtual world.
Louis Vuitton has turned 100 years old and thus, they have also stepped into the digital world. Therefore to pay their tribute to the creator named Louis, a game was formulated. A game was created which represents the collection and running around to gather objects and thus, personalizing the avatars into Louis Vuitton.
The intention is to capture the younger audience from the virtual world without forcing them for anything. Almost 30 NFTs are also created that cannot be exchanged on the marketplace making them digital collectibles.
Therefore, they first submit the application for the product and services in a diverse range of sectors, then gives rise to protection concerns. Therefore, protection is inevitable and for that, a lot are registering with USPTO.
Read Here: Content written by Local Lawyers in UAE about this topic.
