As revealed by Michael Kondoudis, Washington-based NFT attorney, United Parcel Service (NASDAQ shares - Ticker UPS) is preparing to establish a presence in the Metaverse. The move will reinforce the already strong reach the company has in the world, even in the virtual world.
Parcels in the Metaverse
Brand depots range from NFT and Metaverse basic goods to building a new shipping and delivery network. Although only six deposits have been discovered, these six deposits include goods and services such as:
- NFT and crypto-collectible
- Multimedia NFTs supported
- Virtual retail shipping and delivery
- Virtual clothing, packages, vehicles, planes and sports collectibles
- Markets for digital goods and media supported by NFT
- Retail stores with virtual goods
According to Kondoudis, the 114-year-old company is taking these steps to protect its “UPS” brand, which is why these filings are so valuable. Thus, through these filings, the company was preparing to dominate the virtual economy and become a major player in this space. Adding to the same, he said:
"We expect the number of brand deposits for NFT and virtual products and services from the shipping, logistics and package delivery industries to increase over the next 12 months as brands come to appreciate the need for protection in the Metaverse."
This is the new trend, and it is attracting companies around the world to follow it or be outdone.
The Metaverse Dilemma
In recent weeks, more companies have filed applications for Metaverse brands than would be expected, and these companies aren't limited to just one industry.
Brands ranging from fashion to tech and music and fast food companies have been quick to file their brands in the Metaverse so that when the time comes, they will be equipped to establish their presence.
Last month KFC, Pizza Hut and Taco Bell followed similar plans and set foot in the Metaverse. The month before, McDonald's also did the same thing.
At the same time, the New York Stock Exchange and Victoria's Secret also announced their intentions by filing similar brands. And just yesterday, FXEmpire reported that MasterCard has repeated this strategy for itself.
Therefore, finding a model in these repositories is useless. The only driving factor behind these decisions is the creation of their brands' presence in the rapidly emerging virtual world.
The Metaverse hype is growing by the day, and companies are treating it as a marketing strategy, but whether or not it will be a long-term success is yet to be known as the space is still in its early stages.