Mike Kondoudis tweeted yesterday that KFC, the fast-food behemoth, had applied for a trademark for its name and insignia for virtual drinks and meals.
Several more well-known food companies have lately applied for NFT-related trademarks, implying a foray into the metaverse. The food business will greatly gain from this entry into the Metaverse.
NFT Trademark Application
KFC has submitted a trademark registration for its name and other emblems, according to Mike Kondoudis, a licensed trademark attorney. The logo for virtual foods and beverages includes in this new trademark application. It contains NFTs and NFT-based multimedia, virtual restaurants with virtual goods, and a virtual goods online store.
As a result, the trademark covers plans to build downloaded loyalty cards as well as other entertainment offerings, such as virtual games. Furthermore, meal deliveries will be available in both the Metaverse and the actual world in this virtual environment.
On the other hand, Mr. Kondoudis sent a statement to the press. Yum! Brands, he noted, clearly understands the Metaverse’s promise. It is preparing its trademarks and brands for the upcoming virtual economy.
Mr. Kondoudis was alluding to the fact that the corporation had filed applications because it intended to enter the Metaverse. The US Patent and Trademark Offices received this application on March 25th.
Other food firms controlled by Brands, like as Pizza Hut and Taco Bell, filed trademark applications for their names. It also includes logos for drinks and snacks, according to the trademark lawyer.
Fast Food in Metaverse
Many companies in the food, wearables, and other industries have moved into the metaverse in recent months. McDonald’s declared plans to enter the Metaverse earlier this year. This world’s largest food chain, according to sources, has filed ten metaverse patents that allow it to provide food both online and in person.
According to rumours, Mcdonald’s teamed with Humberto Leon’s company. During the Lunar New Year celebration, it will provide Zodia collections in the Metaverse.
On the 25th, another eatery, Dunkin Donuts, submitted trademark applications. Panera Bread, Wendy’s, Panda Express, Hooters, Burger King, and Guy Fieri’s Flavortown have all filed trademark applications. The food industry is already flooding the Metaverse, according to these applications filed in the last few days and weeks.
Moreover, the food business is set to have a big month in the coming months. Mr. Kondoudis stated that the restaurant and food/beverage industries are expected to file the most trademarks for NFTs and virtual products and services. This is expected to rise over the next 12 months as businesses recognize the importance of trademark protection in the Metaverse.
Metaverse’s Benefits to the Food Industry
The food business, as one of the world’s largest, frequently invests much in advertising. According to Statista, McDonald’s will spend $654.7 million on advertising its products in 2020. The Metaverse, on the other hand, provides these businesses with a new platform through which to address larger markets. In the long run, the Metaverse move will help reduce costs and generate revenue.
