Miley Cyrus, an American singer-songwriter, is the most recent celebrity to extend her brand into the virtual stratosphere, having filed two metaverse and non-fungible token-related brands with the United States Patent and Trademark Office (USPTO).
Juniper Research predicts there will be 40 million NFT transactions over the next five years. Use cases related to the metaverse will play a significant role in the broad adoption of digital products, the study shows.
Over the next five years, these particular NFTs will expand at a rapid pace. By 2027, there will be nearly 10 million NFT-based transactions linked to the metaverse, up from 600,000 this year.
NFTs are predominantly related to art. It is well known that the NFT community is completely obsessed with music and other related things.
This is further supported by the findings of recent research conducted by Ripple examining the degree of interest in NFTs in major financial organizations.
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Miley Cyrus’s name is now an NFT
NFTs that used music attracted the greatest attention among the public. The desire of famous musicians to safeguard their identity in the NFT and the Metaverse is not unusual.
According to a tweet from Mike Kondoudis, the NFT and metaverse trademark attorney, Cyrus has filed trademark applications for the names “Miley” and “Miley Cyrus” with the USPTO.
Kondoudis said the singer’s brand applications allude to virtual money management software, virtual clothes and sneakers. The brands are officially registered with serial numbers 97551201 and 97551195.
As this developed, it was revealed in May that famed songwriter and singer Billie Eilish had copyrighted both her name and Blohsh logo through her company, Lash Music LLC.
Rapper, football player and Miley Cyrus NFT
Snoop Dogg, an American rapper, is making significant progress in NFTs and the metaverse after filing trademark applications in June.
Additionally, Snoop Dogg teamed up with fellow rapper Eminem on a recent NFT adventure. Both of their Bored Ape NFTs were featured in a recently released music video.
Superstar football player David Beckham, who became an entrepreneur, also took his brand into the metaverse by applying to DB Ventures Ltd, a California-based venture capital firm he owns.
Miley Cyrus just made her metaverse debut as an avatar in Gucci Town on the Roblox gaming platform, representing the new Gucci Beauty Flora Gorgeous Jasmine campaign.
As previously reported, NFT-related trademark applications are on the rise in the United States, having surpassed 4,000 between January 1 and May 31 this year, which equates to approximately 27 new NFT trademarks being submitted every day during the first six months of 2022.
NFT, anyone?
Crypto total market cap at $994 billion on the daily chart | Source: TradingView.com Featured image from Wallpaper Flare, chart from TradingView.com