PSG Soccer Club files trademark application to get into the metaverse and NFTs
The Paris Saint Germain FC, a soccer club in Europe, files a Trademark Application to Get into the Metaverse and NFTs.
The Paris Saint Germain, a French soccer club with a large European following is interested in having a presence in the Metaverse, and it's now name can be used in these ecosystems, The club filed a series of trademark applications that seek to establish the brand several virtual memorabilia and trading cards, all authenticated by non-fungible tokens.
The trademark application which was introduced on March 16th, includes downloadable audio and video recordings, downloadable multimedia files containing text, audio, sports highlights, and goods for use offline and online, all authenticated via NFTs. also included cryptocurrency wallet software in this application.
Michael Kondoudis a patent attorney who shared the news on social media:
"This filing represents the next logical step to protect the brand as it moves into the Metaverse. Clearly, PSG sees the potential of the Metaverse and is preparing its trademark for the virtual economy that will dominate it."
The PSG is not the European soccer club to identify the significance of the metaverse as an alternative to expand its reach and to attain new business opportunities. The FC Barcelona is preparing a series of actions to make a move into the Metaverse and NFT products. This is a trend that many sports organizations are following due to the business opportunities present within these components.
Kondoudis, who has been following these trademarking activities also thinks the trends will grow in the short term.
"We expect the number of trademark filings from the professional sports sector for NFT and virtual products and services to grow over the next twelve months as brands come to appreciate the need for protections in the metaverse."
The PSG launched its own fan token in 2020 and planned to use crypto to play a part in the agreement of soccer powerhouse Lionel Messi, who was marked by the club in August.