NFT

Luxury Watchmaker Rolex Enters Metaverse With NFT Cryptocurrency and Trademark Registration Requests

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The cryptocurrency industry is booming and its assets are increasingly popular, which has led some well-known high-end brands, including luxury watchmaker Rolex, to jump on the crypto bandwagon themselves. -currencies.

Indeed, Rolex has filed trademark applications related to crypto-currencies, and non-fungible tokens (NFTs), according to the data. published on by trademark and patent attorney Michael Kondoudis (The Law Office of Michael E. Kondoudis) on November 7.

Specifically, the luxury watchmaker’s brand application suggests plans to introduce NFTs, NFT-backed media, NFT marketplaces, crypto keys and transactions, virtual goods auctions, as well as virtual and cryptocurrency exchanges.

Rolex’s crypto/metaverse/NFT trademark application. Source : Mike Kondoudis

According to the documents, the trademark was filed with the United States Patent and Trademark Office (USPTO) on October 31 and covers “downloadable software for technology “, digital wallets, “online spaces for buyers and sellers of virtual objects such as watches and watch parts”, product placements in virtual environments, etc.

The interest of luxury watchmakers in cryptocurrencies

Meanwhile, Rolex continues a long line of famous watch brands that have recognized the appeal of the cryptocurrency industry and implemented cryptocurrencies and blockchain technology in their products and operations.

In mid-May, Swiss watchmaker TAG Heuer announced that it was accepting crypto payments, including the (BTC), the’ (ETH) and the (DOGE) for online purchases on its US website, in partnership with crypto payments provider BitPay.

2 months later, was joined by Breitling, which has also partnered with BitPay to allow customers to purchase its wristwatches and bracelets using major digital assets, as well as stablecoins, including USD (BUSD), Dai (DAI), Gemini Dollar (GUSD), USDP and USD Coin (USDC).

Meanwhile, TAG Heuer launched a smartwatch feature that turns its Connected Caliber E4 product into an NFT viewer for customers to showcase their collection of digital assets with verified proof of ownership, while Hublot launched 200 watches from limited edition luxuries available for purchase online using your chosen crypto.

In late August, watchmaker Jacob & Co revealed an all-new limited-edition bitcoin-themed luxury watch, the first high-complication timepiece dedicated to and inspired by the crypto space, as reported by Theinquirer.

Finally, it’s also worth noting that the recent months-long stock market crash hasn’t turned high-end watchmakers away from crypto, as TAG Heuer and Hublot have continued to accept cryptocurrencies as a form of payment throughout. this difficult time.

However, the crypto crash has had some interesting consequences for the second-hand luxury watch market, which has led to an increase in the supply of high-profile pieces like the Rolex Daytona and the Patek Nautilus 5711A.



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