After years of being criticized as a niche fad, NFTs continue to make headway in the corporate world and are being adopted by some of the most recognizable brands on the planet. One of the latest brands to do this is luxury watchmaker Rolex.
This is because the brand has filed a trademark application for NFT-related products according to documents filed in late October 2022.
Rolex Enters the Metaverse
According to the report, Rolex is exploring the possibility of launching software that facilitates auctions of digital assets, including watches, as well as NFTs themselves.Brands are also paying attention Create a platform for buyers and sellers Trade similar assets. We’ve seen consumer brands apply for trademarks to market his NFTs, but it’s interesting to see Rolex seemingly considering its own market.
At the same time, such a move makes sense. Rolex watches are already collectibles in the real world and are often resold. When the company releases NFT watches, they too are treated as collectibles in various ways.
Having an in-house platform for trading them means the company has some control over how digital assets and brands are treated in the virtual space.
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*All investment/financial opinions expressed by NFT PLAZA are based on the personal research and experience of the site moderators and are intended for educational material only. , the product should be thoroughly investigated.
Tokoni Uti has written extensively on blockchain and cryptocurrencies over the years. Her work has been featured on sites such as BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.
