The beverage company Monster Energy, Inc. (NASDAQ: MNST), will venture into the non-fungible token (NFT) and metaverse space by registering trademarks in the respective fields.
Earlier this year, Monster Energy filed four trademark applications with the United States Patent and Trademark Office (USPTO) around nonfungible tokens (NFTs) and metaverse realms.
In addition, the company has filed for a trademark registration for non-fibre thermoelectrics through the United States Patent and Trademark Office (USPTO) on February 18, 2022. The NFTs will focus mainly on downloadable virtual goods in the categories of beverages, food, supplements, sports, gaming music, and apparel.
In the second application, retailers and online retailers are both authorized with NFTs to participate in the course of providing their customers with virtual goods, including “online marketplaces for viewing, purchasing, and selling virtual goods.” The third application also involves entertainment services related to augmented apparel. Last but not least, the fourth filing consists of providing an online application that will facilitate the trading of digital assets among users through the use of Blockchain technology.
Monster’s trademarks further state that the company will provide entertainment services, including non-downloadable virtual drinks, food, supplements, bags, and so forth.
Lastly, the energy drinks firm has applied for USPTO trademarks for a marketplace for virtual goods and non-fiat currencies. In other words, the trademark will provide non-downloadable software for managing, displaying, monetizing, buying, selling, trading, transferring, clearing, confirming, and authenticating virtual goods, NFT tokens, among others. The USPTO reports that it may take up to 7.4 months for the agency to process first-time trademark applications, based on data provided by the agency.
During this year, there seems to be a sudden influx of companies with intellectual property applications entering the NFT and metaverse space. An application for the trademark to trade NFTs was filed earlier this month by the New York Stock Exchange. Around the same time, McDonald’s also began trademarking its iconic McCafe restaurant chain and “McMetaverse” restaurants.
Monster Energy has now joined the growing number of companies looking to claim a share of the metaverse and NFT market. From the three NFT related trademark filings in 2020, we estimate that in 2021 there will be 1,263. This represents a 421 fold growth over 2020’s figure of three.
After partnering with SmartFi just last month, Monster Energy is now expanding into the crypto-verse for the second time. As a result of this partnership, SmartFi became the official cryptocurrency platform for the Monster Energy AMA Supercross. With this deal, the SmartFi brand will be prominently featured within the Supercross television broadcasts.
It is not the first name you think of when it comes to Monster Energy in the Metaverse. The world’s biggest stock exchange, the New York Stock Exchange, also filed for Metaverse and NFT trademarks last week. Slowly but surely, everyone appears to be moving into Metaverse.
