McDonald’s To Enter The Metaverse, Trademark Files For Virtual Restaurants, Goods And Services

Anyone is Virtual McRib?

McDonald’s filed a trademark filing for a virtual fast-food restaurant, as well as virtual products and services, with the United States Patent and Trademark Office in February, jumping to “ metaverse ”bandwagon.

Metaverse is designed as an immersive online space where users can play and interact with others as avatars in a computer-generated environment.

According to industry experts, people will be able to shop and attend virtual concerts as well as sports events in the metaverse.

The fast-food giant hopes to operate virtual restaurants, “offering real and virtual products” and “operating an online virtual restaurant with in-house delivery,” according to the application. in the trademark.

On Feb. 4, McDonald’s also filed a trademark application that hopes to eventually provide entertainment services, “that is, provide real and virtual online concerts and other virtual events,” the application says.

FILE – In this photo illustration, the silhouette of a woman holding a smartphone with the McDonald’s Corporation logo is displayed on the screen. (Rafael Henrique/SOPA Images/LightRocket via Getty Images)

The idea of ​​buying something you can’t touch or an event you can’t personally experience has sparked a stir among investors and artists looking to capitalize on the virtual marketplace.

For example, non-fungible tokens, better known as NFTs, encourage a bit of a “gold rush mentality,” Larry Cheng, managing partner of Volition Capital, a Boston-based growth company, told FOX Business. during an interview in January.

Cheng, which focuses on investment opportunities in internet applications, e-commerce and consumer products, said Varney & Cie. with a “huge explosion” in interest and investment in NFTs, “which is really the fiber of the metaverse.”

“They allow you to own real estate,” he explains, describing NFTs. “They’re the ones that allow you to own virtual objects in the metaverse and so on and they’re skyrocketing right now.”

Cheng pointed to the data as highlighting the substantial growth in NFT sales.

The total value of all NFT sales that occurred in 2021 was $ 23 billion, compared to less than $ 100 million in 2020, according to data published by DappRadar and announced by Cheng.

DappRadar noted in its 2021 Industry Report that “the NFT space has seen one of the most impressive expansions overall.”

“Strongly tied to the success of NFTs and blockchain games, the prospects for the metaverse and virtual worlds are already promising,” according to the report. “However, after the announcement of Facebook’s rebranding, the outlook for the metaverse has positively increased.”

What is NFT?

In economic jargon, a fungible token is an asset that can be sold on a one-to-one basis. Think dollars or bitcoin – each has the same value and can be traded freely. Something that is unusable, on the other hand, has its own distinct value, like an old house or a classic car.

Mix this idea with cryptocurrency technology known as blockchain and you get NFTs. These real digital certificates can actually be incorporated into digital art or, well, almost anything in digital form – audio files, video clips, animated stickers, this article you’re reading.

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FILE-The Bored Ape Yacht Club Non-Fungible Token (NFT) collection at the OpenSea Marketplace on a computer located in Hastings-on-Hudson, New York, USA on Friday, April 8, 2022. (Tiffany Hagler-Geard/Bloomberg via Getty Images)

Who sells NFTs?

William Shatner of “Star Trek” fame sold 90,000 virtual trading cards last year for $ 1 each. Electronic musician Grimes sold $ 6 million worth of his digital art last month, including a music video with cherub wings floating in pastel dreamscapes that grossed $ 389,000. Clips of NBA star LeBron James dunking have sold for up to $ 225,000. Actress Lindsey Lohan sold the image of her Face. You can also buy virtual land with video games and meme characters like Nyan Chat.

Digital artist Anne Spalter started out as a skeptical NFT but now sells many works of art using tokens. The latest is a video called “Dark Castles” – mysterious warped castles made with artificial intelligence technology – that sold for $ 2,752.

“NFTs open up art to a whole group of people who wouldn’t otherwise be able to go to a gallery in New York,” said Spalter, who pioneers digital fine art classes at Brown University and at the Rhode Island School of Design in the 1990s. “They’re investors, technology entrepreneurs, they’re here in this world.

What is the Metaverse?

Think of it as the internet is alive, or at least rendered in 3D. Facebook CEO Mark Zuckerberg described it as a “virtual environment” that you can step into – instead of just looking at a screen. It’s a world of ever -interconnected virtual communities where people can meet, work, and play, using VR headsets, augmented reality glasses, smartphone apps, or other devices.

It will also include other aspects of online life such as shopping and social media, according to Victoria Petrock, an analyst who tracks advancing technologies.

“It’s the next evolution of connection where all of these things start to come together in a seamless, look-like universe, so you live your virtual life the same way you live your physical life. , “he said.

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FILE – An attendee uses a virtual reality (VR) headset at the Metaverse Summit booth during the Paris NFT Day conference in Paris, France, Tuesday, April 12, 2022. (Benjamin Girette/Bloomberg via Getty Images)

Many companies have joined the metaverse

In January, Walmart unveiled plans to join other companies in offering cryptocurrencies and NFT.

The Dec. 30, 2021 filing, listed under retailer’s digital advertising business “Walmart Connect”, describes a financial transaction service involving cryptocurrency, NFTs and blockchain technology to be used by members. in an online community through a global computer network.

“Walmart is constantly exploring how new technologies can shape future shopping experiences,” a spokesperson told FOX Business.

The retailer can also be seen setting the stage for Metaverse entry.

Separate apps called ‘Verse to Store’, ‘Verse to Curb’ and ‘Verse to Home’ reveal plans for home buying and online ordering services, while another folder searches for trademarks for the Walmart name and the “fireworks” logo for virtual and augmented reality health and education services.

In December 2021, it was revealed that Ralph Lauren was in a hurry to settle the Metaverse. The fashion brand has opened its doors to the online world of Roblox, which has 47 million daily active users, Forbes reports, saying Ralph Lauren is stocking its virtual stores “ with virtual puffer jackets, plaid beanies and hats. season, under $ 5. ”

Many companies will enter the space, with The Walt Disney Co. obtained permission for a patent to project 3D images of real -world objects in theme parks, the Los Angeles Times reported in January.

After announcing plans to buy Activision Blizzard Inc., the creator of “Call of Duty” and “Candy Crush,” Microsoft noticed that nearly $ 68.7 billion of the deal was hit in part to extend into the metaverse .

“Gaming is the fastest growing and most exciting entertainment category on any platform today and plays a key role in the evolution of metaverse platforms,” said Microsoft CEO Satya Nadella. “We have invested heavily in world class, community and cloud space to start a new era of gaming that is geared towards players and creators and makes the game safe, engaging and accessible to all.”

The Associated Press and FOX Business contributed to this report. This story was reported in Los Angeles.

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