World famous race-car league, Formula One recently reported to file for trademark filings. The eight trademark filings are focused majorly on crypto and Web 3 innovations. Earlier in August, F1 filed for the NFTs and crypto offerings along with the blockchain based transaction facilities.
The company is looking towards stepping into the emerging Web 3 ecosystem and the recent trademark filing implies the same. These filings include to set-up cryptocurrencies, meta tokens, digital collectibles, crypto collectibles, NFTs, etc within online marketplace.
F1 Moving in Fast Pace Towards the Web 3
In a Tweet on October 10th, licensed trademark attorney Mike Kondoudis noted the information about the trademark filings under the cover of F1. He highlighted the filings noted cryptocurrency and NFTs, NFT and crypto marketplaces, retail stores containing virtual goods, financial transactions over the blockchain, trading and mining of cryptocurrencies and several others.
Looking at the recent actions of F1, it is indicated that the race-car league is planning to actively play a crucial role in the Web 3 ecosystem. At least the recent trademark filings which covers use of software for crypto, meta tokens, NFTs, digital collectibles, etc suggests so. Additionally, it also seeks software focusing on payments in digital currencies and transactions through exchanges.
Not just the software, F1 also considers to move forward with the offering of retail store services providing virtual goods and also an online marketplace facilitating cryptocurrencies and non-fungible tokens to buyers and sellers.
Trademark filing of F1 also showcases their interest in facilitating transactions over blockchain—which apparently uses cryptocurrencies or crypto tokens. Moreover, the trademark also included use of virtual goods for entertainment services, cryptocurrency, digital and crypto collectibles and non-fungible tokens which can be used within different spaces—online, virtually and in augmented as well as mixed reality spaces.
Growing Influence of Web 3
Web 3 has ensured its presence even within unconventional spaces like fashion lately. Recently, a touch of digital potential within fashion was shown in famous Paris Fashion Week 2022. The event showcased 64 shows and 42 presentations in total, out of which a majority of them demonstrated the potential and future of fashion in upcoming time.
Not to mention that the fashion show consisted of a lot of physical fashion elements which most designers and attendees have enjoyed. However, a small chunk of people were also there who took their interest in fashion elements with Web 3 features.
The discussion of Web 3 elements in fashion unarguably includes the role of famous French designer Victor Weinsanto. In the year 2020, he went on to launch his brand. He said the digital world enables the creators and designers to show their creation without using fabrics and physical material. It takes a lot of effort, energy and time but creating such fashion collections ensures sustainability.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2022/10/12/eight-trademark-filings-of-formula-one-for-crypto-nfts-and-web-3/