Paris Saint-Germain Files NFT & Metaverse Trademark Applications
Paris Saint-Germain Football Club has submitted a series of trademark applications to register its name in favor of offering a variety of services, including software, memorabilia, and goods that are tied to non-fungible tokens (NFTs).
The French soccer team, which has a significant European following, is looking to establish a presence in the metaverse and is now securing its name for usage in these ecosystems. The club has submitted a number of trademark applications in order to establish the club's name on a variety of virtual memorabilia and trading cards, all of which will be authenticated by non-fungible tokens (NFTs).
The March 16th trademark application covers downloadable audio and video recordings, downloadable multimedia files containing text, audio, and video related to sports highlights, and commodities for use offline and/or in online virtual worlds, all of which are authenticated through NFTs. Furthermore, the PSG incorporated a cryptocurrency wallet software into this program.
Michael Kondoudis, a trademark attorney, announced the news on Twitter, claiming that the trademark filings are the "next logical step" in protecting the brand in the metaverse. Paris Saint-Germain, according to Koudoudis, sees promise in the metaverse and is preparing its brand for the "virtual economy" that will rule it.
PSG isn't the only European soccer team to see the metaverse as a viable option for expanding its reach and pursuing new revenue prospects. FC Barcelona, another soccer team, is planning a series of moves to enter the metaverse and NFT market. Many sports organizations are following this trend because of the commercial prospects that these features provide.