French footballing powerhouse Paris Saint-Germain, also known as PSG, have made the initial steps toward entering the metaverse.
As part of its trademark application filed on March 16, the Parisian club, which boasts world-renowned football superstars such as Lionel Messi, Neymar, and Kylian Mbappe among its ranks, has covered the following areas: non-fungible tokens (NFT)-backed multimedia; crypto wallets; managing cryptocurrency transactions; virtual clothing; sports gear; and electronics.
On Monday, March 21, licensed metaverse trademark attorney Michael Kondoudis shared the news with his followers via Twitter.
The Washington DC-based lawyer stated in a press release:
“Paris Saint-Germain is one of the world’s best-known football clubs, and the value attached to the team’s name and brand is substantial. This filing represents the next logical step to protect the brand as it moves into the Metaverse.”
Mr. Kondoudis continued:
“Clearly, PSG sees the potential of the Metaverse and is preparing its trademark for the virtual economy that will dominate it,” adding that this filing “follows the trend by other professional sports brands to begin preparations to participate in the Metaverse.”
Sports teams entering the metaverse
Overall, the trademark attorney anticipates a rise in the number of trademark registrations from the professional sports industry for non-traditional and virtual goods and services within the next year.
“We expect the number of trademark filings from the professional sports sector for NFT and virtual products and services to increase over the next twelve months as brands come to appreciate the need for protections in the Metaverse,” the attorney concluded.
Notably, back in February, Finbold reported that the current English Premier League champions, Manchester City, had begun the construction of the world’s first football stadium in the metaverse, with the assistance of virtual reality (VR) specialists from Sony.
Concepts are being considered that include the possibility of fans meeting up with other players in the metaverse, communicating with one another, and buying things that are not accessible in the real world.
It’s worth noting that companies, corporations, and celebrities have been extending their presence in the metaverse for quite some time now.
A recent analysis by Finbold found that the number of NFT trademark applications in the United States climbed 421 times in 2021, compared to only three in 2020.