Reebok, a renowned footwear company, has announced its intention to enter the metaverse arena. Recent reports reveal that the company has submitted two trademark applications under its name.
These applications are aimed at securing trademarks for their NFT-backed media and for virtual retail stores that will feature a range of products such as shoes, sporting goods, hats, and other digital merchandise.
Additionally, these trademarks are intended for use in an online marketplace dedicated to products powered by NFTs (Non-Fungible Tokens).
This move signifies Reebok’s strategic entry into the digital and virtual world, marking a significant step in the integration of traditional retail with emerging digital technologies.
Reebok Prepares for NFTs
Reebok, known for its significant role in the Authentic Brands Group, is stepping into the NFT and metaverse ecosystem, following the lead of competitors like Adidas and Nike. This move is part of Reebok’s strategy to attract a growing customer base in the rapidly expanding NFT space.
USPTO licensed trademark attorney and astrophysicist Mike Kondoudis noted that Reebok is joining Nike in the metaverse realm. Reebok has filed applications to register its name for various digital products, including NFT-backed media, virtual shoes, hats, sporting goods, and virtual retail stores, as well as online marketplaces for NFT-powered products.
The transition of Reebok into the Authentic Brands Group has been a major development for the company. Completed in March, this transaction valued Reebok at approximately $2.5 billion. Authentic Brands acquired Reebok from Adidas, which had purchased the brand in 2006 for $3.8 million. In conjunction with the sale, Adidas initiated a $1.7 billion share buyback program.
Looking forward, Authentic Brands plans to revolutionize Reebok by integrating crypto payments and producing NFTs. Reebok is set to become a global hub for the design, development, and innovation of footwear and apparel, servicing partners worldwide under the Authentic Brands umbrella.
Authentic Brands also oversees several other notable names, including the personal brands of celebrities like David Beckham, Shaquille O’Neal, and Muhammad Ali, as well as companies such as Prince, a tennis equipment manufacturer, Sports Illustrated, and Juicy Couture.
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