Ralph Lauren filed a group of trademarks to further Polo’s Web3 plans for virtual apparel, events, and experiences.
Ralph Lauren may be moving toward multiple NFT– and metaverse-related projects based on the fashion empire’s recent trademark filings
The paperwork was filed in New York via Daniel I. Schloss, an attorney at Greenberg Traurig.
Polo player logo and “Ralph Lauren” mark
For the Ralph Lauren phrase and its polo player logo, the fashion company wants to use them to provide virtual hotel rooms and operate a virtual restaurant featuring actual and virtual goods.
Regarding the Polo name, Ralph Lauren wants to use it in multiple applications. As its trademark filings read verbatim, those uses include:
- Downloadable multimedia files containing artwork relating to fashion, lifestyle, clothing, footwear, accessories, fragrances, home goods, and collectibles, all authenticated by NFTs
- Downloadable virtual goods, namely, computer programs featuring clothing, footwear, accessories, fragrances, and home goods, for use in online virtual worlds
- Downloadable computer software for use as a cryptocurrency wallet
This is the next big fashion brand to stake its claim in the metaverse, which seems like the perfect time. Research published by Morgan Stanley notes that the metaverse and Web3 could help luxury brands like Ralph Lauren expand their total addressable market by over 10% by 2030. The investment bank and financial services company also predicts a nearly $55 billion revenue opportunity for luxury brands that get in on the virtual apparel industry.
” NFTs and social gaming present two near-term opportunities for luxury brands, allowing them to monetize their vast IP built over decades,” the report says.
RL has been working on its virtual identity for quite some time now. Last year, the fashion company opened a 24/7 digital store on Roblox for users to dress their avatars in its brand. Some of the virtual clothes and accessories users can purchase include backpacks, Polo shirts, and puffer jackets.