Kronos Advanced Technologies, Inc., , revenue-generating product development and production company that has significantly changed the way indoor air is filtered and disinfected, announces the filing of trademark brand to be used in the Metaverse.
Kronos joins Meta’s and Nike’s lead along with early retail companies that have filed trademarks to sell virtual goods and services. The virtual Metaverse, a three-dimensional online world that incorporates an enhanced reality with other emerging technologies, is welcoming new brands daily. With the rise of NFTs and Web3 technologies, the next generation of the internet, brands ranging from Nike, Walmart, McDonald’s, and many other world-leading brands have actively sought to claim prospective assets by filing Metaverse specific trademarks. The United States Patent and Trademark Office has seen a sharp increase in registrations for brands to protect themselves in these virtual digital worlds.
“We think it’s a win-win for Kronos to stay ahead of the competition online and retail to develop a virtual Metaverse commerce,” Michael Rubinov, Kronos CEO, commented. “We plan to file a series of Metaverse related trademarks in the future. This trademark is in line with our Metaverse store that will be launched this year.”
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Bloomberg recently reported that Metaverse might soon be an $800 billion market, next advanced tech platform. The following analysis is by Bloomberg Intelligence Senior Industry Analyst Matthew Kanterman and Bloomberg Intelligence Industry Analyst Nathan Naidu. It appeared first on the Bloomberg Terminal: “The Metaverse is the next big technology platform, attracting online game makers, social networks, and other technology leaders to capture a slice of what we calculate to be a nearly $800 billion market opportunity. Social, persistent, shared, virtual 3D worlds, the Metaverse is the convergence of the physical and digital realms in the next evolution of the internet and social networks using real-time 3D software. It presents an opportunity for leading online entertainment and social media companies to capitalize on new revenue streams. We’ve constructed a global metaverse theme basket to track the companies most exposed across industries. To be included, members must expect to generate a meaningful portion of revenue from platforms, experiences, and transactions in virtual reality.
Metaverse could approach $800 billion tackling live events, ads (revenue).
The global Metaverse revenue opportunity could approach $800 billion in 2024 vs. about $500 billion in 2020, based on our analysis and Newzoo, IDC, PWC, Statista, and Two Circles data. The primary market for online game makers and gaming hardware may exceed $400 billion in 2024 while opportunities in live entertainment and social media make up the remainder.”
CNBC recently reported that Walmart appears to be venturing into the Metaverse with plans to create its own cryptocurrency and collection of non-fungible tokens or NFTs.
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The big-box retailer filed several new trademarks late last month that indicates its intent to make and sell virtual goods, including electronics, home decorations, toys, sporting goods, and personal care products. In a separate filing, Walmart said it would offer users virtual currency, as well as NFTs.
According to the U.S. Patent and Trademark Office, Walmart filed the applications on December 30. In total, seven separate applications have been submitted.
In a statement, Walmart said it is “continuously exploring how emerging technologies may shape future shopping experiences.” It declined to comment on the specific trademark filings.
“We are testing new ideas all the time,” the Company added. “Some ideas become products or services that make it to customers. And some we test, iterate, and learn from.” Nike filed a slew of trademark applications in early November that previewed its plans to sell virtual branded sneakers and apparel. Later that month, it said it was teaming up with Roblox to create an online world called Nikeland. In December, it bought the virtual sneaker company RTFKT (pronounced “artifact”) for an undisclosed amount.
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