McDonald’s to go into Metaverse, trademark files for virtual restaurant, goods and services

Virtual McRib anyone?

McDonald’s filed a trademark application for a virtual fast food restaurant as well as virtual goods and services with the United States Patent and Trademark Office in February and jumped on the “metaverse” bandwagon.

Metaverset is intended as an immersive online space where users can play games 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 sporting events in the meta-verse.

The giant fast-food franchise hopes to run virtual restaurants, “to offer real and virtual products” and “to run an online virtual restaurant with home delivery,” according to the trademark application.

On February 4, McDonald’s also filed a trademark application in hopes of eventually providing entertainment services, “namely the provision of real and virtual online concerts and other virtual events,” the application states.

Metaverse1

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

The idea of ​​buying an item you can not touch, or an event that you do not personally experience, arouses madness among investors and artists who want to make money in the virtual market.

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

Cheng, which focuses on investment opportunities in Internet applications, e-commerce and consumer products, said Varney & Cie. that there has been a “massive explosion” of interest and investment in NFTs, “which really is the fiber of the metaverse.”

“They are what allow you to own real estate,” he explained, describing NFTs. “They’re the ones that allow you to own virtual goods in the meta-verse and so on, and they’re shooting up right now.”

Cheng pointed to data highlighting NFT’s massive sales growth.

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

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

“Strongly linked to the success of NFTs and blockchain games, the prospects for metaverse and virtual worlds were already promising,” the report noted. “Nevertheless, following the announcement of Facebook’s rebranding, the prospects for the metaverse have risen positively.”

What is an NFT?

In economic jargon, a fungible token is an asset that can be traded on a one-to-one basis. Think of dollars or bitcoins – each has exactly the same value and can be traded freely. A non-fungible object, on the other hand, has its own distinct value, such as an old house or a classic car.

Combine this idea with the cryptocurrency technology known as blockchain and you get NFTs. These are actually digital certificates of authenticity that can be attached to digital art or, yes, pretty much anything in digital form – audio files, video clips, animated stickers, this article you are reading.

NFT.jpg

FILE – Bored Ape Yacht Club Non-Fungible Token (NFT) collection on 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?

Last year, William Shatner of “Star Trek” fame sold 90,000 virtual trading cards for $ 1 each. Electronic musician Grimes sold his digital art for $ 6 million last month, including a music video featuring winged cherubs hovering in pastel-colored dream landscapes that grossed $ 389,000. Clips of NBA star LeBron James dunking sell for up to $ 225,000. Actress Lindsey Lohan has sold a picture of her face. You can also buy virtual land in video games and meme characters like Nyan Chat.

The digital artist Anne Spalter started as an NFT skeptic, but has now sold several works of art using tokens. The most recent was a video called “Dark Castles” – mysteriously crooked castles generated by artificial intelligence technology – which sold for $ 2,752.

“NFTs have opened the art to a whole bunch of people who would never have gone to a gallery in New York,” said Spalter, a pioneer in digital art classes at Brown University and the Rhode Island School of Design in the 1990s. “They are investors, they are technology entrepreneurs, they are in this world.”

What is Metaverse?

Think of it as the Internet brought to life, or at least rendered in 3D. Facebook CEO Mark Zuckerberg described it as a “virtual environment” one can step into – instead of just staring at a screen. It is basically a world of endless interconnected virtual communities where people can meet, work and play using VR headsets, augmented reality glasses, smartphone apps or other devices.

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

“It’s the next development of connectivity where all of these things start coming together in a seamless, look-alike universe, so you live your virtual life the same way you live your physical life,” she said.

Metaverse2.jpg

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

Several companies are joining the meta-verse

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

The application of December 30, 2021, listed under the retailer’s digital advertising company “Walmart Connect”, describes a financial transaction service involving cryptocurrencies, NFTs and blockchain technology that will be used by members of a community online via a global computer network.

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

The retailer also seems to be paving the way for getting into Metaverse.

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

In December 2021, it was revealed that Ralph Lauren was in a hurry to settle in Metaverse. The fashion brand opened its doors to Roblox’s online world with 47 million daily active users, Forbes reported, noting that Ralph Lauren filled its virtual stores “with virtual buffer jackets, plaid hats and hats. Other retro skiwear for the winter season, under $ 5.”

Several companies enter the room where The Walt Disney Co. gets approved a patent to project 3D images on 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 noted that nearly $ 68.7 billion was traded in part to expand to the meta-verse.

“Gaming is the fastest growing and most exciting category of entertainment on any platform today and will play a key role in the development of metaverse platforms,” ​​said Microsoft CEO Satya Nadella. “We are investing deeply in world-class content, community and cloud to usher in a new era of gaming that puts players and creators first and makes gaming secure, inclusive and accessible to all.”

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

Leave a Comment