Chevron, energy giant files for trademarks relating to NFT and Metaverse, and this has a lot of implications for the broader energy industry.
Chevron: Web3 needs Energy
Over the last few months, we’ve witnessed NFTs make their debut in different industries and sectors worldwide. Everyone, including corporations, celebrities, and brands, wants to get in on the Web3 action, and it’s not hard to understand why.
Chevron isn’t the first major multinational player to make their NFT debut, but it wouldn’t be out of the ordinary to expect many of the other energy sector players to have Web3 plans.
On March 2, 2022, Chevron filed metaverse-centric trademarks for its logo, name, and other brand elements with the United States Patent and Trademark Office (USPTO). After the application filing, analysts and metaverse enthusiasts began to speculate about the likelihood of Chevron entering the NFT and metaverse scene.
One of the reasons this development from Chevron is exciting is that such a move opens the metaverse to a new world of energy sector experiences that the general public hasn’t had the pleasure of enjoying yet. With time, Chevron can introduce branded NFTs, renewable energy, petroleum, and other products as digital commodities to the public.
Michael Kondoudis, a licensed trademark attorney, broke the news on Monday, March 7, 2022, and he shared the following; “Chevron clearly sees the potential of the Metaverse and is preparing its trademark for the coming economy of virtual goods and services.”
Trademark fillings as a means of identifying Web3 Movements
You may be wondering why the only concrete reason we’re reporting about a possible Chevron NFT is a recent trademark filing with the USPTO. For most people, organizations, and entities, the first step to entering the NFT or metaverse space is filing relevant NFT and metaverse-related trademarks for names, logos, and other brand assets.
It’s a generally-known good case practice for any entity that wants to make their Web3 debut, recording artists, corporate players, sports leagues, and everyone in between is following this path towards a Web3 future.
Now that Chevron has filed its metaverse and NFT-related trademarks, it’ll be fascinating to witness how Chevron will deliver its Web3 tactics and strategies over the next few months. As Chevron progresses in its Web3 journey, millions of people will be excited to see what notable roles NFT and the metaverse will play in the energy sector this decade.
What does this development mean for the Energy Sector?
Admittedly, Chevron is the first major energy sector player to enter the NFTs and metaverse space, but it’s improbable that they’ll be the last. The energy sector isn’t known for being overly excited about innovations that stray away from the core of their business. This left many people to wonder if or when major energy industry players will adopt Web3.
Chevron is one of the most recognizable brands in the energy industry, and the fact that it is ready to delve into Web3 is a good sign of things to come.