Quick take:
- The new trademark applications indicate plans for NFTs.
- There are also plans for cryptocurrency and virtual currency trading.
- Virtual clothing and other goods are also covered under the trademark filings.
Formula One has filed two new Web3 trademarks for its Las Vegas Strip Circuit, a tweet by patent lawyer, Mike Kondoudis, revealed on Monday. The application was filed with the United States Patent and Trademark Office (USPTO) on Aug 23.
This follows Formula’s One announcement in March that Las Vegas will be hosting the night race in November next year.
The lists of goods and services covered under both trademarks are extensive and consist of virtual and real-life items. However, the goods and services under international class 9 reveal plans for NFTs, as well as virtual reality and digital wearables for the metaverse..
More specifically, they include non-fungible tokens (NFTs), being digital certificates of ownership representing virtual goods in relation to sporting equipment, vehicle equipment, decorative items, clothing, clothing accessories, bags, wallets, umbrellas, lanyards, ear protectors, headphones, games, toys, souvenirs, trinkets and a long list of items.
Other services covered include an online marketplace for crypto collectibles and online retail store services featuring the virtual goods listed above as well as virtual reality apparatus; virtual reality models; virtual reality software; downloadable digital media including digital collectibles; downloadable virtual goods, namely, computer programs in relation to sporting equipment are also covered under the trademark filings.
Formula One may also have plans to offer financial services including e-wallets and cryptocurrency; electronic transfer of crypto assets; currency exchange services; currency trading; virtual currency services; electronic funds transfer provided via blockchain technology; financial transactions via blockchain; cryptocurrency services, namely, providing a digital currency or digital token for use via a global computer network.
According to the goods and services covered under international class 42, Formula One’s other plans for utilising the blockchain include data storage via blockchain and data authentication via blockchain.
Even though it has filed two new Web3 trademarks, this isn’t Formula One’s first step into the space. Formula One has signed a nine-year partnership with Crypto.com for the Miami Grand Prix. In May, the two entities joined forces to create NFTs generated by the speed, sound and data of the race in Miami.
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