Magnet or also known as the attraction of promotions and sensations presented by the NFT (non-fungible token) metaverse, mainly in the fashion or fashion business line, has succeeded in attracting another new “big” player. This time, there is a popular brand name called New Balance joined in it.
So, how did this happen?
As we know, previously there were two big names who had entered the metaverse world, namely Adidas and Nike. Now, sneakers manufacturer New Balance is also known to be preparing to launch virtual goods related to its products.
A total of three trademark applications were filed by the company with the United States Patent and Trademark Office (USPTO), describing a “virtual downloadable item” that provides “footwear, clothing, bags and sports equipment, and accessories for use online.”
Following in the footsteps of Nike and Adidas, New Balance is Coming to Metaverse NFT
New Balance, an American sportswear and footwear brand founded in 1906, has shown an interest in virtual goods. This can be seen from the trademark filing recently.
The Boston-based company is following in the footsteps of Nike and Adidas, who had previously entered the metaverse goods industry, non-fungible tokens aka NFT, and blockchain technology.
According to trademark attorney Josh Gerben of Gerben Intellectual Property, he found a filing filed on January 13, 2022 by the large corporation.
“New Balance is coming to the metaverse,” Gerben wrote on Twitter. “The company recently filed 3 trademark applications (on January 13th) claiming intent to sell NEW BALANCE branded virtual shoes, clothing and sports equipment.”
The trademark describes a myriad of “downloadable virtual goods” that can be utilized in cyberspace. They also explain how retail store services can display “virtual merchandise” that showcases the product line of a manufacturer of sneakers and sportswear.
In addition, the New Balance trademark also describes “entertainment services” that provide online accessories for virtual participants.
Dive into Metaverse NFT, New Balance is Only A Few Steps Behind Nike and Adidas, to Puma
Two big players, namely Nike and Adidas, are already a few steps ahead when it comes to the world of the metaverse. Most recently, Adidas teamed up with The Sandbox, Coinbase, and the creators of the Bored Ape Yacht Club (BAYC).
On the other hand, Nike recently collaborated with Roblox to file a patent related to the metaverse. In fact, they also acquired NFT startup RTFTK Studios to “deliver the next generation of collections.”
According to trademark attorney Gerben, sneakers and sportswear manufacturer Puma has filed a trademark similar to New Balance’s recent filing with the USPTO.
Adidas Launches NFT Collection after Joining Metaverse
The world of AR/VR in the NFT metaverse initiated by Meta has succeeded in attracting a number of fashion brands to join it. Following in the footsteps of Nike, which reportedly has prepared a number of new trademarks for its virtual products, Adidas as a competitor immediately stepped on the gas.
Adidas is known to have released the NFT collection in January last year as its NFT debut in the metaverse. This product is the fruit of a collaboration with Bored Ape Yacht Club, gmoney, and PUNKS Comic.
Each NFT will be priced at 0.2 ETH, which is around $812 or IDR 11.1 million. Interestingly, as many as 30,000 NFTs were sold immediately. This sale was a success to generate $ 23 million or around Rp. 330 billion.
As if they don’t want to lose their market here, the competitor of Adidas, namely Nike, does seem very ambitious to prepare their land in the Metaverse. That was after they acquired RTFKT (read: artifact), a virtual shoe manufacturer that sells NFTs—authenticated virtual assets using the same blockchain technology as cryptocurrencies.
Although the news attracted public attention, Nike itself was still reluctant to comment on the contents of the agreement. For information, RTFKT
“This acquisition is another step that accelerates Nike’s digital transformation and allows us to serve athletes and creators at the intersection of sport, creativity, play and culture,” said John Donahoe, CEO of Nike, at the time.