- PSG is ‘coming to the metaverse’ with a trademark application filing.
- The move aims to protect the brand as the club moves into the metaverse.
- Previously, FC Manchester City announced the creation of the world’s first football stadium inside the metaverse.
The digital asset market has seen a staggering growth in the last 12-months alongside the intersectoral expansion. Interestingly, a blossoming relationship between crypto exchanges, NFTs, and sports was one of the key highlights of the crypto market rise over the last year.
Notably, football club Paris Saint-Germain recently took a significant step into the metaverse space, furthering the crypto market’s amalgamation with sports.
French football club Paris Saint-Germain popularly called PSG has filed a new trademark application to register the name ‘PARIS SAINT-GERMAIN’ for non-fungible token (NFT) and metaverse products and services.
PSG is in the Metaverse!
French Football Club PARIS SAINT-GERMAIN has filed a trademark application covering:
— Mike Kondoudis (@KondoudisLaw) March 21, 2022
On March 21, metaverse trademark attorney Michael Kondoudis revealed the filing details. The attorney announced via Twitter that the trademark filing took place on March 16.
The trademark will cover NFT backed multimedia, crypto wallets, managing cryptocurrency transactions, virtual clothing, sports gear, and electronics, according to the information disclosed.
In the press release shared, the Washington DC-based lawyer said,
“Paris Saint-Germain is one of the world’s best-known football clubs, and the value attached to the team’s name and brand is substantial. This filing represents the next logical step to protect the brand as it moves into the metaverse.”
Kondoudis further stated,
“PSG sees the potential of the metaverse and is preparing its trademark for the virtual economy that will dominate it. This move follows the trend by other professional sports brands to begin preparations to participate in the metaverse.”
Interest in the metaverse space has witnessed exceptional growth in the last year. Top players from music, fashion, and sports have entered the virtual space.
Notably, FXEmpire reported about the English football club Manchester City building the world’s first football stadium inside the metaverse in February.
News about the Australian Open and the first-ever tennis tournament on Decentraland (MANA) hit the wire in January. The Australian Open replicated Melbourne Park in Decentraland, giving tennis fans a taste of Melbourne tennis.
All in all, a sheer rise in interest from sports organizations has been noted over the last year. Kondoudis anticipates a surge in the number of trademark registrations from the professional sports industry for non-traditional and virtual goods and services in the following year.
About the rising interest in the metaverse, the attorney said:
“We expect the number of trademark filings from the professional sports sector for NFT and virtual products and services to increase over the next twelve months as brands come to appreciate the need for protections in the metaverse.”