Since 2018, roughly 600 applications for registrations of trademarks for non-fungible token (“NFT”) goods and/or services have been filed with the United States Patent and Trademark Office (“USPTO”). This year, however, has seen a tremendous rise in NFT-specific applications, signaling an even stronger push towards the digital asset that can be used to prove ownership of digital files such as photos, videos, and audio files.
For example, this past June, the 17-year-old beauty brand e.l.f. Cosmetics, Inc. filed an intent-to-use application for registration of “CRYPTO COSMETICS” in International Classes 9 and 42 in connection with NFTs used with blockchain technology “to represent a collectible item and featuring collectible images, audio, videos, and digital art”. Similarly, Saks.com LLC, the e-commerce-focused entity for the department store Saks Fifth Avenue, filed an intent-to-use application for registration of “SAKS” in International Class 9 in connection with NFTs used with blockchain technology “to represent a collectible item; non-fungible tokens featuring collectible images and videos; non-fungible tokens featuring digital art; digital tokens used with blockchain technology”, as well as “digital tokens used with blockchain technology to represent a collectible item”.
Accordingly, consumers can expect to engage with more virtual projects in the new year, particularly within the beauty and fashion industries.