French luxury brand Hermès, founded in 1837, filed for a Web3 trademark application on August 26th. The trademark application, if approved, would reserve the Hermès name for use in a variety of Web3 use cases. Here are the specifics.
- Digital collectibles, cryptocurrencies, non-fungible tokens, and downloadable software
- Retail services featuring virtual goods in online, virtual, or mixed reality environments
- Financial services, such as providing virtual currency for use with virtual goods
- User authentication services using technology for e-commerce transactions
Michael Kondoudis, a Web3 trademark attorney based in Washington D.C., first reported the trademark filing on August 31st in the accompanying categories of NFTs, the metaverse, Web3, and cryptocurrency.
The trademark application sets Hermès up for selling virtual goods as digital collectibles or NFTs, employing user authentication services, launching its own cryptocurrency, or even creating a dedicated digital collectibles marketplace for its goods.
The application may also be in response to a recent event that saw an artist mint “fuzzy” images of the Hermès Birkin bag as NFTs and try to sell them. Hermès sued the artist for copyright infringement but the courts, at the time, ruled that the artist may have been within their first amendment rights to use the likeness of the Birkin bags in their artwork.
The case is currently pending litigation.
Trademark Applications a First Step for Many Companies Entering Web3
Because Web3 offers an opportunity for companies to connect with consumers in a new way, many of them are beginning to jump in. More and more, that process is starting with a trademark application, which signals to customers their intentions and allows them to test the waters. Here are three stories Rarity Sniper has covered about companies and celebrities filing Web3 trademark applications in the past couple of months.
First, there is Formula 1. The racing company recently filed for NFT and trademarks ahead of a Las Vegas race, covering an extensive list of real-life and virtual items. In the application, there were even plans for virtual currency trading and cryptocurrency.
Second, there is Miley Cyrus. A little over a week ago, the singer filed an application for NFT and metaverse trademarks through her organization Miley Smiley. The trademark application would register the names “Miley” and “Miley Cyrus” for a variety of virtual goods, including clothing, energy drinks, and non-alcoholic drinks.
Third and finally, there is Hyundai. Two months ago, the South Korean automaker filed a new trademark application for non-fungible tokens and virtual reality. The move came after the success of the car manufacturer’s Web3 “metamobility” campaign and accompanying NFT set.
Hermès filing a trademark application for Web3 is a big move, especially for luxury brands that have dived straight into the sphere. Here at Rarity Sniper, we’ll be watching closely for future developments in the story.