Ford has joined litany of automakers who are either issuing or exploring non-fungible tokens
American carmaker Ford is jumping on the Metaverse bandwagon, according to its recent trademark application,
The auto giant has submitted 19 separate trademarks for all of its key brands.
The Dearborn, Michigan-based company intends to offer virtual cars, trucks, vans and clothing.
It also has plans for online stores with non-fungible tokens (NFTs).
As reported by U.Today, South Korean car giant Hyundai has also filed multiple trademark applications related to Metaverse and the non-fungible token. Its filing extends to sports gear, headgear, footwear, eyewear, sports equipment and other items.
Mercedes-Benz, Hyundai, Lamborghini, Bentley and other major car manufacturers have also issued their own NFT collections.
Luxury hypercar maker W Motors entered Metaverse territory in August.
Earlier this week, Renault Korea, the South Korean subsidiary of the French auto manufacturer, and The Sandbox, a popular Metaverse platform, introduced virtual automobile experiences.
Meanwhile, Alfa Romeo built NFTs into their vehicles to store maintenance records.
While automakers are entering the NFT space at a rapid pace, it is not clear whether or not this Metaverse fever will produce strong use cases.
NFT cars are more expensive than real cars
A recent research article published by Onerama suggests that some NFT fans are willing to pay more for virtual cars than for real ones. A photo of a Nissan GT-R car sold for $2.3 million, which is 10 times the price of the actual car. A video of an exploding Lamborghini was recently sold as an NFT for $250,000, which is more than the value of an actual Lambo.
