Premier League filed for trademark protection for NFT in the US

The English Premier League (EPL) has just submitted two trademark applications related to cryptocurrency and NFT in the US. It seems that the world’s most-watched sports league cannot turn a blind eye to this potential digital sports ground.

Many global brands are increasingly showing interest in NFT and the metaverse as part of an effort to open up more avenues to connect with fans. In this flow, the English Premier League, one of the most-watched sports leagues globally, is the latest to enter the metaverse with two trademark applications submitted to the Office of United States Patent and Trademark (USPTO) last week.

According to the filing, Premier League is intending to venture into other areas such as NFTs, cryptocurrency, digital collections, digital trading cards, cryptocurrency trading, clothing, footwear, and gadgets virtual sports equipment.

Previously, it was reported that the Premier League organizers were looking to earn nearly $590 million from selling NFT rights to other organizations.

The NFT market has grown quite “hot” in recent years, continuously receiving many big players entering the industry. One of the most notable NFT projects in the sports world is NBA Top Shot, which led the NFT wave with $230 million in sales. The collection recently surpassed $1 billion in sales, according to CryptoSlam.

While the cryptocurrency market is facing several waves of decline, NFT sales show no signs of slowing down. NFT has become a potential area for celebrities, artists, and cultural icons to connect with fans and foster a sense of community.

In April, David Beckham filed three trademark applications for products related to metaverse and NFT. Nike just filed for protection for the term “Cryptokicks” on April 19. Or recently, Meta has submitted 5 trademark applications in the United States, suggesting the birth of the digital payment platform “Meta Pay”.

Although the concepts of NFT and metaverse are relatively new, the number of units applying for trademark protection has been continuously increasing. According to a Finbold report, the number of applications filed to the USPTO for trademark protection for NFT in the US alone has increased more than 400 times this year.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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