• According to intellectual property lawyer Michael Kondoudis, companies filing NFT trademark applications have a “bona fide” intention to use the mark in the future.
• 2023 has already seen a number of major companies filing for NFT-related trademark applications.
• Liquor companies are the first to jump on the trend, with filings from Absolut Vodka, Chivas Regal whisky and Malibu Rum.
Nonfungible tokens (NFTs) and metaverse trademarks are gaining traction, with companies filing applications in the United States and beyond. Michael Kondoudis, an intellectual property lawyer, has noticed the trend and advises that NFT trademark filings by companies should not just be viewed as a marketing stunt.
Kondoudis explains that filing an application, which costs between $250 to $350 per class of goods/services, requires a sworn statement that the applicant has an intention to use the mark in the future for the listed products and services. He adds that applications go through a substantive review and can be rejected for a legal or technical reason.
2023 has already seen a number of major companies filing for NFT-related trademark applications, with liquor companies leading the trend. Absolut Vodka, Chivas Regal whisky, Malibu Rum and Jameson Irish whiskey are all among the companies who have filed for NFT trademarks.
The applications are seen as reliable signals of what corporations are planning to do in the future and Kondoudis believes this is just the beginning. He says that as more companies enter the space, the trend of filing NFT trademark applications is likely to continue.
Kondoudis believes the trend will also extend to other industries, such as video games, music, art, and sports. He encourages companies to take this seriously and consult a qualified lawyer to ensure their applications are properly filed and meet the legal requirements.
For those looking to own a piece of history, NFT trademark filings are a great way to keep track of what companies are doing in the space. With more companies likely to jump on the trend, it’s something that crypto proponents should keep a close eye on.