Picture Credit: Formula 1
In a significant development, Formula One has filed for eight more trademarks to join the crypto world with its globally recognized 'F1' abbreviation with the United States Patent and Trademark Office (USPTO) on October 5. The applications were reportedly filed by Formula One Licensing B.V., a Netherland-based company of the Formula One Group which claims ownership of the trademarks related to Formula One and the F1 logo.
According to Mr Kondoudis, NFT and metaverse licensed trademark attorney, the trademark filings will include licenses for cryptocurrency, NFTs and crypto marketplace, retail stores for virtual goods, blockchain financial transactions, cryptocurrency trading, mixed reality environments, and crypto mining, amongst other things. Furthermore, F1 has filed for a trademark on entertainment services using virtual goods, like non-downloadable artwork and augmented and mixed reality environments.
Earlier, in August, F1 registered two NFT trademarks for its Las Vegas Strip Circuit. According to reports, the application, which was filed with the United States Patent and Trademark Office in August, intended to provide crypto, NFT, insurance and financial services, digital token brokerage and trading, and other blockchain-related services.
Even in February, South Florida Motorsports (SFM), a Formula 1 affiliate organization, announced Crypto.com as the official title partner of the Formula 1 Crypto.com Miami Grand Prix. According to an Ad Age report last week, Crypto.com has been 'downsizing its marketing deals and headcount in the wake of crypto winter', which could affect the crypto firm's plans with Formula One.
Stefano Domenicali, president and CEO of Formula 1, earlier claimed that "We are pleased to welcome Crypto.com to the Formula 1 family, as we continue to attract progressive global brands anchored in performance and innovation."