The main institutional interest in NFTs and the Metaverse continues to increase. That said, NFT trading volumes fell sharply in early February. NFT trading activity hit an all-time high in January, led by OpenSea.
In recent weeks, a number of major brands and companies have applied for NFT and Metaverse-related trademarks. Last week, we saw Gucci make the purchase of LAND in Sandbox (SAND). In 2021, Gucci had already teamed up with Roblox to host "Gucci Garden." It was a virtual version of a real-world installation in Italy, offering themed rooms to commemorate Gucci's centennial. Gucci was among the first luxury fashion houses to sell NFT in the NFT space, with Louis Vuitton, Prada and sports brands Adidas and Nike. The surge in interest was so significant that Nike acquired digital collection and sneaker creator RTFKT last year.
Victoria's Secret, an American lingerie and beauty brand famous for its marketing and branding with high advertising potential, is taking its first steps into the metaverse.
Michael Kondoudis announced that Victoria's Secret has submitted four applications for online clothing and media for use in virtual worlds, with digital collections and media developed using blockchain technology.
Michael Kondoudis made the following statements in his tweet.
"Victoria's Secret is coming to the Metaverse! New trademark filings, filed Feb. 8, show that @VictoriasSecret plans to deliver digital collections and media created with blockchain technology and online clothing and media for use in "virtual environments," attorney said.
Global brands and visitors will be able to experience the fashion shows virtually, attend live music sessions and after parties. Participants can also purchase and wear digital apparel directly from the catwalk avatars. Some of the digital catwalk collections can be used to buy physical parts of the brand.
Last week, it was reported that McDonald's was ready to explore the metaverse. Specifically, eleven of the twelve trademarks the fast-food chain filed on Feb. 4 referred to virtual restaurants, symbols, cafes, and other virtual services. According to the app, McDonald's will be able to issue "downloadable multimedia files" as well as NFTs for artwork, audio and video files.