According to the details shared by licensed trademark attorney, Michael Kondoudis on June 6, the English Premier League (EPL), one of the most-watched sports leagues globally, is the latest sports outfit to foray into the world of crypto and metaverse.
As per the announcement by Micheal on Twitter, the EPL filed two new crypto trademarks(Non-fungible tokens and Metaverse) and the filings were submitted to the US Patents and Trademark Office.
The trademark filings are quite expansive in scope and cover the creation and sale of digital assets, virtual clothing, cryptocurrencies, and media files verified by NFTs.
Importance of this move
The development is a sign that the world’s most-watched sports league is gearing up to expand its brand into the digital scene.
According to Sporting Index, The English Premier League is regularly watched by around four billion people, so the value attached to the brand is substantial.
It can be said that those filings are a logical step to protect the brand in the fast-rising and innovative 21st century technology – crypto and the metaverse.
However, the milestone doesn’t come as a surprise to those conversant with the happenings in the cryptoverse. In recent times, the world of sports has shown a budding interest in the digital assets space.
As a matter of fact, some of the Premier League’s biggest clubs already have some sort of deal with a company in the crypto sector. Arsenal and Manchester City have signed up with fan tokens firm – Socios to launch their own tokens.
Earlier this year, Manchester City partnered with tech firm Sony to build the Etihad Stadium on the metaverse. Also recently, Chelsea FC entered a sponsorship deal with crypto firm WhaleFin , while Manchester United penned a training kit sponsorship deal with Tezos blockchain.
Last month, Arsenal announced a partnership with Unagi as part of their free to play game where player cards could be purchased as NFTs.
To cap off that, Crypto.com is now the official sponsor of the 2022 FIFA World Cup to be held in Qatar. With billions of viewers worldwide, the FIFA World Cup is the most-watched football event in the world.
The application of digital currencies is becoming increasingly common throughout the sports world, especially among football clubs.
And, the NFT space is now a growing area for celebrities, artists and cultural icons to connect with their fans and cultivate a sense of community online.
In a broader sense, the marriage of sports and crypto is expected to further broaden their reach. Specifically, the wide endorsement of crypto and NFTs by EPL teams is definitely going to contribute to its massive adoption.