General Motors is attempting another NFT venture as it filed to trademark Chevrolet’s brand name use in NFTs.
GM is diving back into NFTs
General Motors (GM) recently filed a new trademark with the US Patent and Trademark Office aiming to cover Chevrolet’s wordmark use in digital media files. Based on the filing, assigned serial number 97798317 specifies the mark’s use will be for downloadable media such as text, video, artwork, or artwork.
The move marks the second time GM is venturing into the murky waters of the NFT world. In May 2022, the company mentioned that The General, in South Korea, had unveiled an NFT art project introducing the Chevy Tahoe as a digital artwork. The project was looking to grow sales and the Tahoe’s image in the South Korean market since the full-size SUV came into the market the month before.
The Chevy Tahoe NFT project had ten pieces describing the Tahoe heritage and brought about the unique experience of the vehicle. The art pieces entered the public through a raffle on the Asian country Chevrolet website.
The GM Korea’s NFT project is a collaboration between two South Korean graphic artists, each working on five pieces. The art pieces were Masterpiece, Vision, Legacy, Discover, Space, Giant, Mastery, Meteor, Castle, and Gemstone.
A failed auction?
GM tried auctioning an NFT of its 2023 Corvette Z06. The winner was set to win a physical version of the mid-engine sports car. However, four days in, there was no winner. The auction bid began while it was rumored the starting bid price was many times the car’s retail price. Hence, bids were only placed on the car when the auction was extended by another day.
Chevrolet classified the auction as educational but questioned what it learned. Hence, what the GM plans to do with the trademark remained unclear or if the move was only a protective one.
Other luxury car brands are also filing
In November 2022, a luxury car maker, BMW, filed for metaverse and NFT trademarks. It is then set to launch tokenized virtual vehicles, among other assets. Mercedes Benz, on Dec. 14, also filed the same patents with the United States Patents and Trademark office. The brand wants to launch digital products such as rugs, mats, wallets, clothing, footwear, animal furs, and luggage.
Meanwhile, Lamborghini recently teamed with VeVe, an app-based marketplace, and is looking to launch digital collectibles. In addition, Lexus also adopted NFTs to establish driving certificates.
