Kellogg’s, the American cereal giant, has recently filed a dozen trademarks for its various brands, indicating the company’s plans to create NFTs with its intellectual property. The filings, dated May 24, 2023, were sent to the US Patent and Trademark Office (USPTO) and include brands such as Froot Loops, Special K, Kellogg’s, Pop-Tarts, Cheez-It, Rice Krispies, Krave, Eggo, Mini Wheats, Bear Naked, Frosted Flakes, and Pringles.
The filings suggest that Kellogg’s intends to use their food products in “online virtual worlds,” transforming their cereals, breakfast bars, and snacks into NFTs. However, it is important to note that these trademarks do not guarantee that Kellogg’s will launch NFT or metaverse-related assets featuring their food products. The filings simply mean that the company is exploring the potential to use its intellectual property within the Web3 realm in the future.
Kellogg’s is not the first company to show interest in the metaverse and NFTs. Mercedes Benz filed five metaverse and NFT-related trademarks with the USPTO in December 2022, while Fidelity, an asset management company, also revealed its plans for metaverse integration through three patent applications for investment services and financial planning across “virtual worlds.”
While the trend of established companies exploring the possibilities of NFTs and the metaverse is intriguing, it is not without its criticisms. Some individuals in the crypto community argue that not every brand or product necessarily makes sense as an NFT or within the metaverse. Additionally, there is the issue of energy consumption and the environmental impact of NFTs – an ongoing debate among crypto enthusiasts.
On the other hand, proponents of NFTs argue that this technology presents a unique opportunity for brands like Kellogg’s to enter the digital realm with their intellectual property, opening up new avenues for growth and engagement with customers. For example, NFTs could provide a novel way for fans to collect and trade virtual versions of their favorite cereal mascots or snack products.
At this stage, it remains to be seen whether Kellogg’s NFT plans will come to fruition. However, their interest in this area illustrates the growing curiosity of well-established companies in the digital assets space, undoubtedly a sign of the times as more businesses explore the potential of blockchain technology.