Companies don’t just use NFT trademark filings as a way to get more business. A trademark attorney said that they had to use what was in the application.
Crypto supporters would be wise to keep an eye on trademark applications for nonfungible tokens (NFTs) and metaverses this year. These are “reliable signals” of how crypto will be used in the future.
Michael Kondoudis, an intellectual property lawyer, told Cointelegraph that even though a lot of people might think that big companies are just jumping on the NFT trend as a fad, “it is not possible” to register a trademark in the U.S. if you don’t plan to use it.
Even though it only costs $250 to $350 per class of goods or services to file an application, Kondoudis said that when a company submits a trademark application, it needs a sworn statement that the applicant has a “bona fide” plan to use the mark in the future for the listed goods and services.
He did say, though, that these applications “go through a substantive review” and could be turned down for many legal and technical reasons.
Several big companies have already filed for trademarks related to NFT in 2023, and Kondoudis has been active on Twitter to bring these to the public’s attention.
Trademark trends so far in 2023
Kondoudis said that liquor companies applying for NFT trademarks were “the first trend for 2023.”
He said that well-known alcohol brands like Absolut Vodka, Chivas Regal whisky, and Malibu Rum have already filed new patents this year.
Irish Distillers International, which makes Jameson Irish whiskey, was the latest liquor company to apply for an NFT trademark on Jan. 18.
9 hours ago
© 2015-2023 Coinposters. All rights reserved!