Formula 1 files for NFT and Metaverse trademarks

Last week, racing giant Formula One filed two trademarks with the United States Patent and Trademark Office (USPTO), indicating plans to enter the world of Web3, crypto and the Metaverse in the future. 

The news was revealed by U.S. patent attorney Mike Kondoudis via Twitter.

Specifically, the trademarks were filed on August 23 for the ‘LAS VEGAS STRIP CIRCUIT’, by F1’s trademark department - Formula One Licensing BV.  

They cover plans for producing an online marketplace for crypto digital collectibles, online retail store with virtual goods and virtual reality models, software, downloadable digital media, and computer programs in relation to sporting equipment. 

Other plans listed include crypto wallets, crypto exchange services, and a digital currency or token using blockchain technology. 

Back in May, F1 first ventured into the Web3 space through a partnership with Crypto.com to create NFTs that were generated by the sound, speed, and data of the Miami Grand Prix. 

Photo: SportsTravel