The French luxury design business Hermès, founded in 1837, is trying to give its brand a Web3 twist in an effort to stay up with the times. The company has submitted a complex trademark application that details its plans to enter the cryptocurrency, metaverse, and non-fungible token industries (NFTs). Hermès wants to offer its consumers a high-end virtual shipping experience through retail locations that sell virtual products. To give Hermès a metaverse-like setting, technologies like augmented reality (AR) and mixed reality (MR) will be deployed.
In order to view, store, and manage virtual products including digital collectibles, cryptocurrencies, and NFTs for usage in online worlds, the company has submitted an application to the United States Patent and Trademark Office (USPTO).
An USPTO-licensed trademark lawyer named Mike Kondoudis posted screenshots of the Hermès filing on Twitter.
As of right now, the company hasn't revealed any of the concepts it's considering investigating in relation to its Web3 journey.
However, it is already known that Hermès will join other of its modern brands, including Gucci and Dolce & Gabbana.
According to a research released only last week by Dune Analytics, high-end luxury brands that recently integrated their products with NFTs were able to generate millions of dollars in sales.
Reputable brands that looked at selling NFTs with their products have combined won a total of $260 million (about Rs. 2,074 crore).
While Nike made the most money from NFT sales, taking in $185.3 million (approximately Rs. 1,478 crore), Dolce & Gabbana, Tiffany, and Gucci placed second, third, and fourth, respectively, in terms of the money they made from NFT-related projects.
A number of intriguing fashion-related entries are being made in the metaverse sector, which strengthens the case for its legitimacy.
For instance, a four-day online event centred around the fashion sector was held in the Decentraland metaverse earlier this year.
At the time, Decentraland's virtual runways featured a number of high-end brands, including Dolce & Gabbana, Etro, Tommy Hilfiger, Estée Lauder, and Elie Saab, according to a CoinTelegraph report.
