South Korean automaker Hyundai is diving deeper into non-fungible tokens. The latest evidence is the company’s most recent trademark filings, which cover a wide range of NFT and virtual reality possibilities. Here’s what we know so far:
- Hyundai filed the latest trademark applications on July 6th, 2022
- They cover non-fungible tokens and NFT-backed media, including the issuing of NFTs
- They also take into account virtual reality clothing, footwear, and sports gear
- Finally, they open the possibility for virtual reality avatars and car images
Mike Kondoudis, a trademark and patent attorney popular on Twitter, first reported the news. It appears Hyundai is gearing up for another Web3-related push, with their former forays into the field being successes. But aside from the language in the trademark application, the actual specifics are vague. Hyundai has yet to make an announcement about the filing.
Hyundai is no stranger to NFTs or Web3. On May 9th and 10th, it launched an NFT set called “Shooting Star,” where a MetaKong found a star stuck to a Hyundai Pony windshield wiper. The “Shooting Star” NFT drop used a common delayed-reveal tactic where a placeholder image stood over the actual NFT image until the reveal.
The carmaker has also taken its initiatives in Web3 to the next level, even amongst other auto manufacturers. It has created a community of NFT collectors and emphasized its metamobility theme, which encompasses values like inclusion. Its latest trademark application is a sign that it is far from finished and that we can expect more from the South Korean giant.
Car Companies Take to Web3
Car companies, from manufacturers of performance cars to racing car leagues, have taken to Web3. None of this rings more true than in the news we’ve covered here at Rarity Sniper. Here are three examples of car-related NFT news that prove the car industry is serious about Web3.
First, there is Lotus. The British auto manufacturer of sports cars revealed its plans to enter the NFT industry about a month, partnering with Ripple, the creators of XRP. The NFT drop will pay tribute to the performance car’s brand and mark its debut in the space.
Then there is British performance car manufacturer McLaren. Two months ago, it shared through a press release that it planned to enter the NFT space with two drops. The first would be reserved solely for owners of McLaren vehicles and the other “invite-only.” Holders of the NFTs would receive many perks, including a virtual tour of McLaren’s engineering facilities.
Finally, there is NASCAR. The racing sports league has been at the forefront of combining Web3 with racing in the United States. At the Texas Motor Speedway, it planned multiple NFT drops, including a gift NFT to holders of IRL tickets to that weekend’s festivities.
As the moves of Hyundai and others in the space show, car manufacturers and the car industry seem serious about NFTs and the world of Web3. Here at Rarity Sniper, we’ll keep our ear to the ground for any more breaking news.