Yesterday, Mike Kondoudis tweeted that KFC, a food giant filed a trademark application for its name and logos for virtual drinks and food. Several other top food vendors recently applied for NFT related trademarks, indicating a move into the metaverse world. This move into the Metaverse is going to benefit the food industry highly.
Yum! Brands Files for NFT Trademark
Mike Kondoudis, a licensed trademark attorney, tweeted that KFC recently filed for a trademark application for its name and other logos. This new trademark application includes the logo for virtual foods plus drinks, NFTs and NFT backed multimedia, virtual restaurants with virtual goods, and an online store with virtual goods.
Accordingly, the trademark includes plans to create downloadable cards for loyalty and other entertainment services, including virtual games. Moreover, this virtual world will feature food deliveries in the Metaverse and real world.
Mr. Kondoudis released a press statement saying,
“Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it.”
Mr. Kondoudis was insinuating the company filed applications because it plans to move into the Metaverse. This application was filed on March 25th in the US Patent and Trademark offices.
According to the trademark lawyer, other food companies owned by Brands, including Pizza Hut and Taco Bell, also filed for trademarks for its name and logo for drinks and foods.
Fast Food In The Metaverse
Over the past months, many companies from the food, wearables, and others have made a metaverse move. Earlier this year, McDonald’s announced plans to move into the Metaverse. According to reports, this world’s largest food chain applied ten metaverse patents that allow them to deliver food online and also in person.
According to reports, Mcdonald’s partnered with another company Humberto Leon to offer Zodia collections within the Metaverse during the Lunar New Year celebration.
Dunkin Donut is another restaurant that recently filed trademark applications on the 25th. Others have filed trademark applications, such as Panera Bread, Wendys, Panda Express, Hooters, Burger King, and Guy Fieris Flavortown. These applications filed in the past few days and weeks indicate that the food industry is already filling the Metaverse.
These coming months are going to be huge for the food industry. Mr. Kondoudis noted that
“We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse,”
How The Metaverse Benefits Food Industry
As one of the largest industries globally, the food industry often spends significant funds on advertising. A Statista report indicates that in 2020 alone, McDonald’s spent $654.7 million in advertising its products. However, the Metaverse gives these companies a new ground where they can get access to larger markets. The Metaverse move will help reduce some costs and bring in incomes in the long term.
Source: https://crypto.news/kfc-owners-yum-brands-files-for-nft-trademarks-plans-to-join-metaverse/