Rolex files trademarks for services in the Metaverse and NFTs

One of the world’s leading luxury watch manufacturers has filed trademarks to offer different services in the Metaverse and non-fungible tokens. We at NFTexpress will pass on what this new foray by Rolex is all about.

Rolexone of the world’s leading luxury watch manufacturers, will enter the Web3 ecosystem after it was learned that the company made trademark filings for NFTs and the Metaverse.

Among the documents submitted by the company, they include plans for the creation of digital collectibles and auction software for various digital assets. The assets they have declared for these services include watches, suggesting that Rolex may be interested in offering “phygital” items (specialized products so that the same person can have a presence in both the physical and digital worlds).

The company, which is headquartered in Switzerland but founded in the UK, filed for trademarks at the end of October 2022. The people behind the luxury watch company seem to have big ideas for creating a potential market for NFTs. While Rolexes are already considered physical collectible items, the company is looking to bring the same value by drawing a digital parallel and offer the same experience in the digital marketplace through non-fungible tokens and the Metaverse.

In addition, we have already seen how major corporations around the world are increasingly entering the Web3 with similar trademark filings. However, Rolex is opting to step up a notch and offer product launches in NFT format. Consequently, acquiring a digital asset of this size can unlock a wealth of potential benefits, partnerships, utilities, exclusive access and more.

Also, as I mentioned, the Swiss watch company filed trademarks for downloadable computer software for users to use as crypto wallets. This means that the supposed NFT marketplace for watches could come with an integrated Rolex wallet, which builds more confidence and seriousness to the project.

Earlier this year, the luxury brand was introduced on the Web3 thanks to the momentum of the project. Koiaproject, which allowed users to own a fraction of a prized Rolex. The community was able to acquire a fraction of a Rolex GMT-Master II Pepsi“with a value of $100 dollars and up.

In addition, with an adoption of Web3 and developments in blockchain technology and NFTs, luxury items such as NFTs have become popular. For example, earlier this year the popular Web3 project Azuki launched a physical backing token, which allowed a physical item to be distinguished as an NFT on the blockchain and trusted for ownership via a specialized chip. We will frequently see the world’s biggest brands create and offer new services for all users, both in the physical world, as well as in the digital world.

If you are not familiar with the Rolex brand, they are considered to be one of the best and most important watch creators in the world. The company uses a variety of precious metals such as specialized steel called “Oystersteel” to manufacture their watches.

Finally, this high-grade steel material allows a Rolex watch to function perfectly and at the same time maintain its beauty even in the harshest environments.

All investment or financial opinions on behalf of NFTexpress should not be taken as recommendations. This article is informational/educational material. Before making any type of investment do your own research.

Written by Rodrigo Catalan (TW: @RodrigoCatalanB) for NFT Express.