The English Premier League (EPL) has registered two cryptocurrencies and NFT penchant in the United States, indicating that the world’s most popular sports league is preparing to augment its brand into the digital realm.
The hallmarks were registered with the United States Patent and Trademark Office (USPTO) last week, and licensed trademark attorney Michael Kondoudis revealed them in a tweet on June 6.
The Premier League has filed 2 US trademark applications for
▶️ NFTs, cryptocurrencies, digital tokens + collectibles
▶️ Digital asset trading
▶️ Financial and crypto services
▶️ Virtual clothing, footwear, and sports gear#NFTs #Metaverse #Cryptocurrencies #PremierLeague pic.twitter.com/1tPOU0dIOp
— Mike Kondoudis (@KondoudisLaw) June 6, 2022
The two hallmark registration involves the United States use of trademarks related to the league. One of the hallmarks centers on the league’s name and emblem represented by a “lion wearing a crown in three-quarter view,” while the other is graced with lions on each trophy handle and a crown on top, representing a “lovely cup trophy.”
The trademark registrations encompass the creation and selling of digital assets, virtual clothes, cryptocurrency, and media files validated by NFTs, among other things. In addition, the use of Premier League trademarks in “virtual, augmented, and mixed reality software” is also covered.
An NFT is a type of digital asset that denotes ownership of the material, such as digital artwork, profile photographs, or music. Each token is one-of-a-kind, and it’s made on public blockchains like Ethereum or Solana.
In recent years, the market for NFTs has increased as more businesses have entered the fray. NBA Top Shot, which debuted in 2020, is one of the most well-known NFT ventures in the sports industry. According to CryptoSlam, the collection’s sales just reached $1 billion.
While the appetite for cryptocurrencies and NFTs has declined in light of the general crypto market’s recent fall, NFT sales are still on track to surpass the $20 billion barriers set last year. In addition, celebrities, artists, and cultural icons have been flocking to the platform to engage with their followers and foster a feeling of community.
The use of digital currency is growing more widespread in the sports industry, particularly among football teams. For example, Arsenal launched a collaboration with Unagi last month as part of their free-to-play game, in which player cards could be acquired as NFTs.
Users can keep player cards as collectibles, sell them on the open market for in-game cash, or swap them with other players in the game. According to football fans, it might be a promising sign for the Premier League in the future.
The Premier League’s entry into the digital sphere will provide a slew of prospects for both players and spectators.
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