F1 filed eight trademark applications with the US Patent and Trademark Office (USPTO), outlining its aspirations for cryptocurrency and metaverse products and services.
United States Patent and Trademark Office, encompassing a wide range of cryptocurrency, non-fungible tokens (NFT), and metaverse products and services.
On October 5, Formula One filed eight trademark applications with the United States Patent and Trademark Office (USPTO), outlining its aspirations for cryptocurrency, NFTs, and metaverse products and services.
Mike Kondoudis, a USPTO-licensed trademark attorney, highlighted in a tweet: "F1 has filed 8 trademarks for 'F1' covering: Cryptocurrency + NFTs, NFT + Crypto markets, Retail stores for virtual products, Blockchain financial transactions, Cryptocurrency trading + mining, and more."
The trademark s.no. are 97620686, 97620287, 97620289, 97620291, 97620281, 97620279, 97620298, and 97620268. The applications were filed by Formula One Licensing B.V., a Dutch-based subsidiary of the Formula One Group that claims ownership of the Formula One and F1 logo trademarks.
Formula 1 is the world's largest yearly sporting event, with races taking place in 22 nations across five continents. According to its website, "we have nearly half a billion enthusiastic fans backing the world's top drivers and constructors."
South Florida Motorsports (SFM), a Formula 1 associate group, announced in February that Crypto.com would serve as the official title sponsor of the "Formula 1 Crypto.com Miami Grand Prix." However, sources reported last week that Crypto.com has reduced its marketing partnerships and manpower in the aftermath of crypto winter, which might jeopardize the crypto firm's ambitions with Formula One.
In June of last year, Crypto.com became the first global partner of Formula One's Sprint series for 2021. At the time, Formula 1 president and CEO Stefano Domenicali stated, "We are thrilled to welcome Crypto.com to the Formula 1 family, as we continue to attract innovative global businesses grounded in performance and innovation."
Read also: Amid Crypto Winter, Web3 Developers Are More Active Than Ever: Report
