Confectionery giant Haribo has made a bold move into the world of non-fungible tokens by filing for NFT-linked trademarks at the US Patent and Trademark Office (USPTO). The trademarks cover a wide range of virtual assets from Haribo.
As per the creators, the virtual assets include cartoons, toys, downloadable audio and video content, smart glasses, and more. Also, Haribo, renowned for its delicious candies and gummy bears and a legacy dating back to 1920, aims to safeguard its name, “HARIBO,” and establish it as a brand within the Metaverse and Web3.
Quick Takes:
- Haribo enters the NFT space by filing for virtual asset trademarks at USPTO.
- The confectionery giant aims to establish its brand within the Metaverse and Web3.
- Haribo’s move reflects a growing trend of major brands embracing NFTs and virtual assets.
Addressing Trademark Challenges in the Virtual Realm
The issue of trademark registration for virtual assets has long been a controversial topic. Numerous brand owners seek to protect their intellectual property in relation to virtual worlds and Web3. Earlier this year, the absence of unified regulations created confusion around the classification of digital assets. However, the USPTO has taken steps to facilitate the trademarking of names in the NFT space and the Metaverse.
Haribo follows in the footsteps of Wrigley’s Twix, a subsidiary of Mars, which transformed its iconic Twix brand into NFTs. Additionally, Haribo has recently applied for the “Juicyverse” trademark to introduce music, digital avatars, confectioneries, and videos validated by NFTs.
Trademark attorney Mike Kondoudis highlights Haribo’s successful registration of its name as a trademark for various virtual assets. Moreover, it will be interesting to see how the candy manufacturer will utilize these trademarks to create virtual assets that captivate consumers within the Metaverse.
Anticipating Haribo’s Metaverse Endeavors
Haribo’s foray into the NFT space marks a significant milestone for the confectionery industry. With its longstanding reputation and global presence spanning over 100 countries, the Germany-based company is well-positioned to leverage its brand and bring immersive virtual experiences to consumers within the Metaverse.
Looking ahead, the utilization of NFTs and virtual assets by established brands may reshape the digital landscape. Further, it will offer consumers unique opportunities to engage with their favourite products and characters in the ever-expanding virtual realm.
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