Chevron, the energy behemoth, has filed for trademarks linked to NFT and Metaverse, which has far-reaching ramifications for the energy industry as a whole.
Chevron: Web3 requires Energy
Over the last few months, we’ve seen NFTs make their debut in a variety of businesses and sectors around the world. Everyone wants to get in on the Web3 activity, including corporations, celebrities, and brands, and it’s easy to see why.
Chevron isn’t the first major international business to make their NFT debut, but it wouldn’t be surprising if many of the other energy sector firms had Web3 intentions as well.
Chevron filed metaverse-centric trademarks for its logo, name, and other brand features with the United States Patent and Trademark Office on March 2, 2022. (USPTO). Following the application submission, experts and metaverse aficionados began to speculate about Chevron’s potential entry into the NFT and metaverse scene.
One of the reasons this Chevron breakthrough is interesting is that it opens the metaverse to a new universe of energy sector experiences that the general public has yet to enjoy. Chevron can eventually introduce branded NFTs, renewable energy, fuel, and other products to the public as digital commodities.
On Monday, March 7, 2022, Michael Kondoudis, a licensed trademark attorney, announced the news, saying, “Chevron clearly understands the potential of the Metaverse and is preparing its trademark for the emerging economy of virtual products and services.”
Fillings in trademarks as a technique of identifying Web3 Movements
You may be asking why we’re reporting on a suspected Chevron NFT based solely on a recent trademark filing with the USPTO. The initial step for most persons, organizations, and entities in joining the NFT or metaverse space is to file relevant NFT and metaverse-related trademarks for names, logos, and other brand assets.
It’s a well-known best practice for every entity looking to make its Web3 debut; recording artists, corporate players, sports leagues, and everyone in between are all on this path to a Web3 future.
Now that Chevron has filed its metaverse and NFT-related trademarks, it will be interesting to see how Chevron implements its Web3 techniques and plans in the coming months. Millions of people will be excited to watch what significant roles NFT and the metaverse will play in the energy sector this decade as Chevron advances on its Web3 adventure.
What does this signify for the energy industry?
Chevron is, admittedly, the first big energy sector firm to enter the NFTs and metaverse arena, but they are unlikely to be the last. The energy industry isn’t known for being excessively enthusiastic about developments that deviate from their core business. Many people are wondering if and when big participants in the energy industry will adopt Web3.
Chevron is one of the most well-known names in the oil business, and the fact that it is preparing to enter the Web3 space is a promising sign of things to come.