Ford unveils new cars and NFT collection
Ford's new car NFTs application
Ford Motor Company has filed 19 trademark applications across its key automotive brands, including Mustang, Bronco, Lincoln, Explorer, and F-150 Lightning, in preparation for its debut into the world of non-fungible tokens (NFTs) and the Metaverse. The trademark applications encompass virtual automobiles, trucks, vans, SUVs, branded clothes, and a projected online marketplace for NFT, coming a month after the corporation announced significant worker cuts.
According to USPTO documents submitted by Ford on September 2, the automaker intends to offer downloadable artwork, text, music, and video displaying its vehicles, SUVs, trucks, and vans, which NFTs will authenticate.
The firm also unveiled ideas for "downloadable virtual products," or "computer programmes" with auto components and accessories and clothes for usage in "online virtual environments," such as virtual reality. Its augmented reality trade exhibits and an online marketplace showcase other people's digital artwork and online retail shop services using non-fungible tokens (NFTs) and digital collectables.
Ford's new car application follows other car companies' move into the space
Ford is not the first to enter the Metaverse. Car manufacturers such as Nissan, Toyota, and Hyundai have declared aspirations to join the rapidly expanding Metaverse market. On the other hand, luxury automakers like Bentley and Lamborghini have already launched NFT collections.
Hyundai, a South Korean carmaker, had already submitted many trademark applications concerning the Metaverse and non-fungible tokens. They have filed for Sports equipment, headgear, footwear, and eyeglasses. Mercedes-Benz, Hyundai, Lamborghini, Bentley, and other major car manufacturers have launched NFT collections. In August, W Motors, a premium hyper-car manufacturer, entered the Metaverse area.
Earlier this week, Renault Korea, the French automaker's South Korean division, and The Sandbox, a popular Metaverse platform, introduced virtual automobile experiences. Meanwhile, Alfa Romeo equipped its vehicles with NFTs to keep maintenance records.
Some NFT enthusiasts have spent more on virtual cars than real ones, according to a recent Vanarama study piece.
Author: Emmanuel Baiden
7 years experience within the financial services sector most notably in Sales, Trading, research and writing articles within the crypto space. I have a bachelor's degree in International Business and a Master's in Investment and Risk Finance . I am also an associate member of the Chartered Institute for Securities and Investment.