From Crocs to Wal-Mart we dive into the five major brands set to drop their first NFT. Check out these up-and-coming drops!
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Across nearly every industry, NFTs have been making their mark and now even the biggest brands are starting to take notice and drop their own NFT collections. Leading brands are leveraging NFTs as a way to market their products and services in a big way. 2022 will not disappoint as many of the largest brands in the world are set to drop new NFTs or expand their existing NFT collections.
The well-known shoe company Crocs filed an “intent-to-use” trademark application on January 11, 2022, making their intent to use NFTs in the near future in eCommerce. With competing brands such as Nike and Under Armour already hitting the ground running with their own NFTs and applications, Crocs is poised to mint their own NFTs and challenge these large brands as they seek to expand their market share. The trademark application itself is marked for “Downloadable computer software for creating, managing, storing, accessing, sending, receiving, exchanging, validating and selling digital assets, digital collectibles, digital tokens and non-fungible tokens (NFTs).”
New Balance filed several trademark applications for its own sneaker-based nonfungible tokens. The trademark applications themselves used the terms ‘downloadable virtual goods’, ‘retail store services featuring virtual merchandise’, and ‘entertainment services.’ New Balance specializes in manufacturing sneakers used in sports and running. These trademarks will help New Balance embark on its journey and cements its intellectual property (IP) brand in the metaverse. The company, however, has yet to make a public announcement covering its entrance into the metaverse so it’s speculation at best when they may release any news or mint an NFT collection.
Blockbuster was thought by many to have gone the way of the dinosaurs as Netflix entered the DVD on-demand industry in early 1999. Blockbuster is now planning a comeback or what’s been described as a “digital revival.” Blockbuster shut down all of its retail locations except for one store in Bend, Oregon which has been dubbed “The Last Blockbuster.” Blockbuster still has its website but it has since partnered with DISH to provide streaming movie services through set-top devices (satellite) and additionally offers movie rentals via RedBox kiosks throughout major cities throughout the United States. Blockbuster seems to be hoping to revive its place in the digital world using NFTs as the company filed for a trademark application for a digital token, as well as NFT marketplace and Metaverse environment.
Urban Outfitters is planning to make its entrance into the NFT world, filing its share of patent trademarks. The company retails women’s and men’s fashion apparel and is likely going to try to mimic the success of past fashion and lifestyle brands such as Under Armour and The Gap. Urban Outfitters has one of the highest sales volumes in the fashion retailer industry coming in at over 3.45 billion US dollars in 2021 alone so its upcoming creation of collectible NFTs is all but guaranteed to be successful. Only time will tell as many more lifestyle brands are also creating their own tokens and embracing the ever-changing world of cryptocurrency and the Metaverse.
Walmart is one of the most recognizable brands on our list. The Walmart brand started more than 50 years ago and it's now preparing to bridge the digital divide with its entrance into NFTs and its own cryptocurrency. Walmart is feverishly applying for new trademarks. In total, seven trademark applications have been submitted to the United States Patent Trademark Office.
In a recently released statement, Walmart said it is “continuously exploring how emerging technologies may shape future shopping experiences.”
As these large brands begin to enter the NFT space, broad adoption of NFTs is definitely on the horizon. Whether you’re an advanced trader who’s been involved since the beginning of crypto or someone just getting started and needing more information, we have what you need. Check out our site for more information and to get started today!