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The Metaverse: The Delorean Steps Into The World Of NFTs

TL;DR Breakdown
  • Non-Fungible tokens and Metaverse being the rise of the evolution
  • DeLorean plans for NFT-backed media, and stores with retailers offering virtual cars
  • Automotive Companies in the rising world of Metaverse

The American automotive manufacturer, the Delorean motor company (DMC) which is known widely for its appearance as a time travel device in the ‘Back to the Future ‘  film trilogy recently stepped foot in the realm of Metaverse. The Delorean is arguably the most iconic car in movie history leading to the popularity and fortune of the respective company.

On May 30, the firm responsible for manufacturing the car filed for two trademark applications with the United States Patent And Trade Mark Office (USPTO) for both, DMC and Delorean.  The news was shared by their attorney Michael Kondodis on June 3rd through his Twitter handle.  The news hinted at their plans on providing virtual cars, NFT-backed media, and stores with retailers offering virtual cars. This indicates that the company does want to be left behind in the world of the metaverse, highlighting its interest in modern world virtual reality.

Effects on the NFT world

DeLorean’s entry in the metaverse elaborates how well- reputed firms and people are interested in investing in this virtual reality world. Despite being here for a very short span of time and picking up its hype in early 2021, the masses are showing a huge amount of interest in it. There are 60,000 active users of metaverse as we speak, so there is a very high chance that this is the next big thing in the tech world.

The enthusiasm, the novelty, and the skeptical approach of people, as well as critics behind Non-Fungible tokens and Metaverse being the rise of the evolution of the technology world, is on record heights. The NFT industry surpassed $40Billion in the year 2021, so the leading brands and investors are increasingly filing for trademark protection and monetizing from it.

The NFT trademark battles are gathering more steam day by day. In the U.S., Trade mark applications for NFTs jumped almost seven folds in comparison to 2021 in the first two months. All in all automotive companies like DeLorean Motor Company and McLaren, also introduced their MSO LAB (McLaren Special Operations) in April indicating the company’s new metaverse plan in progress.

Automotive Companies in the rising world of Metaverse

There are also several automotive-specific use cases of the metaverse recently which came to light, calling the whole concept ‘the Auto-motor-verse’. Examples are BMW partnering with Nvidia and Hyundai partnering with Unity both interested in building 3D digital twins in their factories which can be virtually accessible. Here the employees can assess and modify any adjustments to the production lines in the early planning stages. Similarly,  WayRay made a concept car, named  ‘Metaverse on Wheels’ because It basically works and relies on AR technology.

Muhammad Ali

Muhammad Ali

Muhammad Ali is an expert on crypto investments. Loving to write about fintech, he joins the team to provide detailed analyses of the hottest crypto news.

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