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Thursday, June 1, 2023

Paris Saint-Germain Soccer Club Files Trademark Application to Get Into the Metaverse and NFTs

Paris Saint-Germain Soccer Club Files Trademark Application to Get Into the Metaverse and NFTs – PSG (Paris Saint-Germain) FC, an European soccer club, has taken the initial steps toward establishing an online presence in the metaverse.

The club has filed a series of trademark applications to register its name in order to sell software, memorabilia, and goods that are tied to non-fungible tokens (NFTs) for authentication.

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Paris Saint-Germain (PSG), a popular soccer club in France, is interested in developing a presence in the metaverse and is presently securing its name for use in these ecosystems. The club has filed several trademark applications in order to have its name appear on a range of virtual souvenirs and trading cards, all of which have been authenticated by NFTs.

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The trademark application, which was filed on March 16th, covers downloadable multimedia files containing text, downloadable audio and video recordings, video and audio related to sports highlights, and commodities for use offline and in online virtual worlds, all of which are authenticated through NFTs. This package also includes cryptocurrency wallet software from the PSG.

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Michael Kondoudis, a patent attorney who publicized the story on social media, stated:

“This filing is the appropriate next step in protecting the brand as it expands into the Metaverse. PSG clearly recognizes the Metaverse’s potential and is developing its trademark for the virtual economy that will come to rule it.”

Paris Saint-Germain Soccer Club Files Trademark Application to Get Into the Metaverse and NFTs – PSG isn’t the only European soccer team that sees the metaverse as a feasible way to broaden its reach and pursue new financial opportunities.

Another soccer team, FC Barcelona, is preparing a series of steps to get into the metaverse and NFT sector. Because of the commercial opportunities that these capabilities give, numerous sports organizations are adopting this trend.

Kondoudis, who has been monitoring the trends in trademarking, expects the trend will continue in the future future.

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He explained:

“Over the next twelve months, we expect the number of trademark filings for NFT and virtual products and services from the professional sports sector to rise as businesses recognize the need for metaverse protection.”

PSG created its own fan token in 2020 with the goal of leveraging cryptocurrencies to cover a part of soccer superstar Lionel Messi’s deal, which he signed in August.

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