Recently, the renowned German stationery company, Faber-Castell, took another step into the world of crypto assets by filing three US patent applications relating to linked products to the metaverse and non-fungible tokens (NFTs).
Faber-Castell and the world of crypto assets
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#Faber Castell is coming to the Metaverse!
The company has filed a trademark application claiming plans for branded:
🖊️Virtual pens, pencils, stationery
🖊️Stores for virtual goods
🖊️NFT-backed digital files
🖊️Crypto-collectibles… and much more!#NFTs#Metaverse#web3#Cryptopic.twitter.com/cgpInncdkx
— Mike Kondoudis (@KondoudisLaw) May 15, 2023
The documents reveal the company's interest in this expanding sector. The requests were submitted last Wednesday, the 10th, and are awaiting approval from the authorities. authorities in the United States, with the assistance of a lawyer specializing in patent registration, Michael Kondoudis.
According to the documents, Faber-Castell is developing digital assets, including computer programs with drawing materials, writing materials, pens, crayons, pencils, erasers, rulers, artists' materials and notebooks.
The proposal is that these items become tradable crypto assets through technology blockchain, allowing both the negotiation of digital items and the acquisition or sale using cryptocurrencies.
Furthermore, one of the patent applications involves the creation of a retail service for the purchase and sale of these virtual assets, while the third request aims at creating a virtual space for recreational, leisure and entertainment interaction for users.
The documents indicate that Faber-Castell intends to enter the metaverse offering cryptoassets and NFTs collectibles that imitate the products already marketed by the company in several countries, including Brazil. This strategy follows the example of other companies, such as Adidas.
What is the status of the metaverse?
Faber-Castell's strategy demonstrates that traditional companies are still exploring opportunities for their products in the metaverse, even in the face of the decline in popularity of this segment and the debates around its applications and impacts on economy.
In a recent Financial Times article, the CEO of a public relations firm, Ed Zitron, argued that the “once acclaimed technology” had “died after being abandoned by the world of business". He pointed out that Meta's virtual reality platform, Horizon Worlds, had failed to deliver on its "grand promise" of becoming the future of the internet.
That article sparked discussions on social media, with advocates and critics alike speaking out. On the other hand, Epic Games CEO Tim Sweeney remains optimistic about the metaverse and reinforced his position, citing the 600 million users on virtual world platforms such as Fortnite, Minecraft, Roblox, The Sandbox and VR Chat.