NFT

Rolex gets into cryptomonanies and NFTs

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Tue 08 Nov 2022 ▪ 2:00 p.m. ▪
4
min read – by
Mikaia ANDRIAMAHAZOARIMANANA

You have to pull out all the stops to sell your products easily in a market crowded with competitors. This remains topical both for equipment manufacturers, insurers and for car manufacturers. Recently, the luxury watch brand Rolex has shown interest in cryptocurrencies, the metaverse and NFTs. A filing of trademark applications has been made in order to win a victory beyond Web 2.0.

Crypto and NFT: Love at first sight from Rolex, trademark application filed

Rolex files (finally!) a patent application

the perfect marriage between the luxury and cryptos is enough to capsize the hearts of the major players in this sector. Unable to resist the charm of new technologies, Rolex filed patent applications related to cryptocurrencies, NFT and to the metaverse on Monday, October 31. Trademark attorney Michael Kondoudis himself tweeted it a week later.

Patent application filed by Rolex

The trademark application bearing the serial number 97 655 284, filed with the United States Patent and Trademark Office (USPTO), demonstrates Rolex’s desire to launch soon:

  • a crypto exchange;
  • a crypto wallet;
  • an NFT marketplace;
  • an NFT auction platform;
  • etc

Enough to catch up with other competing brands like Tag Heuer and Jacob & Co who have already jumped on the bandwagon for several months.

Luxury watchmakers increasingly seduced by cryptos and NFTs

The nascent cryptocurrency technology is already part of the ecosystem of Jacob & Co, Breitling and TAG Heuer. Last May, Tag Heuer started accepting crypto payments for the purchase of its products through BitPay. A month later, the Swiss company affiliated with LVHM presented a new NFT-friendly smartwatch.

In the month of August, Jacob & Co. has previously introduced the line of limited-edition bitcoin-themed luxury watches. Some time later, Breitling entered this scene, again with the support of BitPay. Now, his wristwatches and bracelets can be exchanged for cryptocurrencies and stablecoins.

Bear market, cryptocurrency crash…does it like to peddle since bitcoin plummeted to over 60% of its ATH from a year ago. Admittedly, the de-peg of TerraUSD to the dollar did not help matters, but the image of the metaverse, NFTs and cryptos is not tarnished either. Rolex understood this well, in any case.

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Mikaia ANDRIAMAHAZOARIMANANA avatar
Mikaia ANDRIAMAHAZOARIMANANA

The blockchain and crypto revolution is underway! And the day when the impacts will be felt on the most vulnerable economy of this World, against all hope, I will say that I had something to do with it



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