European soccer club Paris Saint-Germain prepares to build an online presence in the Metaverse by filing several trademark applications.
European football club Paris Saint-Germain (PSG) is getting ready to enter the Metaverse. As its first step in cementing its presence in the Web3 ecosystem, PSG is now busy filing trademark applications. The applications seek to establish the brand on various virtual trading cards and memorabilia in the form of NFTs.
Paris Saint-Germain is a professional football club based in Paris, France, competing in Ligue 1. Ligue 1 is a French professional league for men’s football clubs, sitting at the top of the French football league system. So PSG plays in the country’s primary football competition.
The filing of trademark applications is not PSG’s maiden foray into the NFT space. Paris Saint-Germain, a professional football club based in Paris, France, has been collaborating with Socios.com since 2020. The company generates a limited number of PSG fan tokens ($PSG), a secured utility token on the Chiliz Network, a proof-of-authority sidechain built on Ethereum.
Also, when PSG signed soccer powerhouse Lionel Messi in August 2021, it was said they would use crypto to pay for a portion of Messi’s contract.
Paris Saint-Germain in the Metaverse
The trademark applications were introduced on March 16, allowing the football club to register its name in offering various services. The trademarks PSG applied for include downloadable audio and video recordings and multimedia files containing video, audio, and text related to sports highlights. There will also be software, memorabilia, and articles. All of these can be authenticated via NFTs.
Paris Saint-Germain is also looking to offer fungible and NFT-based merchandise. These include headphones, sports equipment, toys, bags, clothing, and many others that owners can use offline or in virtual worlds.
The football club’s filing includes an application to provide cryptocurrencies that members of an exclusive online community can use through a global computer network. They also filed for cryptocurrency trading services and payment processing, which could mean the company is seeking to develop a crypto exchange platform.
“This filing represents the next logical step to protect the brand as it moves into the Metaverse. Clearly, PSG sees the potential of the Metaverse and is preparing its trademark for the virtual economy that will dominate it,” said patent attorney Michael Kondoudis. He was the one who shared the news of PSG’s trademark applications on social media.
Sports Team Breachin New Grounds
Paris Saint-Germain is not the first European football club to take advantage of the Metaverse to widen its reach and create new business opportunities. The F.C. Barcelona is in the works breach the Metaverse and NFT space. Moreover, other sports organizations could follow suit primarily due to such ecosystems’ lucrative business opportunities.
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 MetaverseMichael Kondoudis
Kondoudis, busy tracking these trademarking moves, believes this is a trend that will see tremendous short-term growth.
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