In brief

  • Major companies may be trying to avoid another Nike vs. StockX situation.
  • Walmart has filed dozens of trademark requests since December.

Since Facebook changed its name to Meta, there’s been a lot of discussion about the metaverse—spaces where virtual reality, gaming, and avatars collide. It’s part of Web3, the next iteration of the Internet focused on user ownership of one’s data or digital assets, and some of the world’s biggest companies are taking note.

Notable apparel and restaurant brands recently committed to VR integrations in blockchain-based digital worlds like The Sandbox and Decentraland. Some have bought virtual plots of land for hundreds of thousands of dollars.

And NFTs are positioned to become a big part of future metaverse plays. NFTs, or non-fungible tokens, are digital tokens that exist on a blockchain like Ethereum and signify one’s ownership over a specific asset. 

As the NFT marketplace becomes a billion-dollar industry, some brands already are taking legal action, such as Nike suing StockX for allegedly selling unauthorized images of its sneakers, while more and more are filing for trademarks to protect digital assets. Even retail giant Walmart is getting in on the action, having filed 27 NFT-related trademark requests in the U.S., Canada, and Mexico since December.

Beauty

L’Oreal this month has applied for trademarks for 17 of its subsidiary makeup, hair, skin, and nail care brands, including Kiehl’s, NYX makeup, Urban Decay, Redken, Essie, Pureology, Matrix, and It Cosmetics.

In its applications, L’Oreal is seeking…


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