Nike is quietly preparing for the metaverse
The giant apparel brand has made its first foray into the metaverse. This week, the Oregon-based company filed several trademarks that indicated its intention to sell Nike-branded apparel and sneakers.
The U.S. Patent and Trademark Office reports that Nike filed application filings on October 27th for Nike’s iconic slogan, “Just Do It”, and the swoosh logo. On the same day, Nike filed two additional applications for logos “Air Jordan” (and “Jumpman”) Seven different applications were submitted in total.
Josh Gerben, trademark attorney said that Nike is protecting its trademarks in this new era.
A request to comment about its future plans was not immediately answered by the company. People familiar with the strategy stated that the brand considers this a top priority and expect more virtual rollouts over the coming months.
Gerben said, “This would clearly be a nod toward this idea of a metaverse.” Gerben stated that the new trademark applications were filed by Gerben and others. They claim they will launch virtual clothing, footwear, and headwear in online and offline worlds.
Gerben said that Nike’s new trademarks offer additional protection to the brand in case others try to use it in an unlicensed manner.
It will make it easier to protect your trademarks in the virtual world, he said. Gerben explained that trademark filings can add value to brand portfolios because trademarks are considered property.
He said, “You can see the value that Nike’s logo or name holds if it were something you were selling. So the more protection you add to your trademarks, the arguably the greater the added value to the book value the company.”
The brand isn’t the first to venture into virtual reality. Jordan Brand partnered up with FortniteNike shoes were featured in the film “Nike’s World” Nike also collaborated with this online gaming site in a number of ways. Roblox.
Nike intends to use the “Cryptokicks” patent that was filed in April 2019.
Nike is preparing for the virtual universe, but its physical environment has been affected by supply chain problems. The company’s most recent earnings report, which was released on September 23, stated that the supply chain issues had impacted its physical world. lowered its fiscal 2022 outlookVietnam has long transit times, labor shortages, and extended production stops.
Nike shares have increased 18% over the past year, making it more valuable than $265 billion.