Muhammad Ali placed a trademark for NFTs and metaverse on Web3
Muhammad Ali’s name is now protected in the Web3 environment as a trademark, extending to non-fungible tokens (NFTs) and virtual commodities in the metaverse.
According to a tweet posted by NFT and metaverse authorized trademark attorney Michael Kondoudis on October 19, the trademark of the boxer known as “The Greatest,” who is widely regarded as one of the most influential sports figures of the 20th century, is registered under U.S. Registration No. 6881575, issued on October 18.
The registered trademark includes Ali-related NFT-authenticated material, virtual apparel, footwear, headgear, sports bags, and equipment.
Konduodis told Finbold: According to USPTO guidelines, this registration was reviewed and authorized in less than one year. We anticipate the same outcomes for additional celebrity name applicants. It also provides guidelines for preserving famous names and brands as they shift into the metaverse.
He added: We anticipate that this trend of celebrities registering Web3 trademarks will continue as more celebrities see the necessity for brand protection in the metaverse.
It is important to note that Muhammad Ali’s trademark application was one of many submitted in late 2021 to protect famous names. Elvis Presley and Marilyn Monroe are among the others.
In June, soccer superstar Cristiano Ronaldo formed an exclusive NFT relationship with Binance. Many sportsmen and sports organisations from across the globe are adopting NFT in an attempt to retain their level of fan involvement.
Kevin Durant of the Brooklyn Nets of the National Basketball Association (NBA) filed 26 trademark applications for the NFT and the metaverse, as previously reported by Finbold.
Notably, the number of NFT and blockchain-related trademarks registered in the United States has already topped 6,000 in 2022, which is three times the number recorded for 2021.