When you think of an energy drink, Red Bull would most likely pop up with its “gives you wings” slogan. That’s because the brand has nearly 40% market share domination in the Taurine-filled market. Estimated to be valued at around $17.5 billion in 2021, the Austrian Red Bull GmbH recently filed a patent on its NFT entry, following the footsteps of its less-boosting beverages, Pepsi and Coca Cola.
Red Bull NFT Patent Details
Revealed on March 8, 2022, by attorney Mike Kondoudis, Red Bull GmbH filed a trademark application to the United States Patent and Trademark Office. The USPTO filing itself took place on March 3, 2022, under the serial number 97293326 (available under multi-search).
Diving into the details further, the trademark includes the following:
- Downloadable virtual goods as computer programs ranging from headwear, clothing and footwear to toys, vehicles, posters, and accessories. In short, downloadable multimedia files containing NFTs.
- Online retail store services featuring both virtual and physical merchandise revolving around fictional characters, i.e., a themed NFT marketplace similar to Bored Apes Yacht Club.
- Financial services underpinned by virtual currencies.
- Interaction with a virtual environment, such as mirroring real-time concerts, sports competitions, and other entertainment events. In these environments, users interact with virtual food and drinks within virtual sports stadiums, race tracks, or theaters.
Altogether, these are the ingredients for a metaverse venture, similar to Nikeland in Roblox. After all, Red Bull is a traditional sponsor of major high-octane sporting events like NASCAR and Formula One, to name only a few. The question is, who will provide Red Bull’s NFT on-ramping?
Tezos Red Bull Partnership History
In May 2021, Red Bull partnered with Tezos, then dubbed as the world’s most advanced blockchain. Specifically, as the Team’s Official Blockchain Partner for Red Bull Racing Honda. If that rings a bell, it’s because two of the top NFT marketplaces, Rarible and OpenSea, have announced or already integrated NFTs linked to Tezos (XTZ) blockchain, notable for its enterprise-grade speed and near-zero transaction fees
“Crucially, its energy-efficient design also matches our own long-term future environmental ambitions, and as Formula One moves towards carbon neutrality, the low-impact methodology pioneered by Tezos will be a valuable asset.”The head of Red Bull Racing Honda, Christian Horner
To this day, Tezos is also the only blockchain that was programmed for self-governance. Its “baking” mechanism allows for holders to stake XTZ tokens and use them for voting power on proposals. If passed by the supermajority, Tezos network then integrates the code.
Furthermore, such is the reputation of Tezos that Societe Generale, a massive French bank with $1.8 trillion AuM, picked Tezos to experiment with Central Bank Digital Currency (CBDC) deployment. Predictably, as the Red Bull news broke out, Tezos itself was boosted.
On a final note, it seems that COVID-19 greatly accelerates the mainstreaming of virtual events where physical presence is not required. Only time will tell if NFTs will suffice to ‘physicalize’ virtuality as blockchain merchandise.
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