The English Premier League (EPL) has applied for two trademarks in the United States for cryptocurrency and non-fungible tokens (NFT). This is a sign that the most-watched sports league in the world is getting ready to expand its brand into the digital world.
The trademarks were sent to the USPTO (United States Patent and Trademark Office) last week, and licensed trademark attorney Michael Kondoudis tweeted about them on June 6.
The Premier League is the top level of professional English football. It has 20 teams.
The first complaint is about the name and logo of the league, which is a “lion wearing a crown in three-quarter perspective.” The second complaint is about a “love cup trophy” with lions on each handle and a crown on top.
The trademark applications cover a wide range of things, like the making and selling of digital assets, virtual clothes, cryptocurrency, and media files that have been verified by NFTs. They also let the Premier League’s trademarks be used in “virtual, augmented, and mixed reality applications.”
A non-fungible token is a digital asset that shows ownership of media, like digital art, profile pictures, or music. They are given out on public blockchains like Ethereum or Solana, and each one is unique.
In the past few years, more businesses have entered the market for non-exchange-traded tokens (NFTs). When it comes out in 2020, NBA Top Shot will be one of the most important NFT sports projects. CryptoSlam says that sales of the collection have just reached $1 billion.
As a result of the recent drop in the crypto market as a whole, demand for cryptocurrencies and NFTs has slowed. However, NFT sales are on track to top the $20 billion in sales that were made in 2017. Celebrities, artists, and other cultural icons are using this space more and more to talk to their fans and build a sense of community online.
Digital currency is being used more and more in sports, especially by football teams. Last month, Arsenal and Unagi announced that they would be working together on their free-to-play game, in which player cards can be bought with tokens that can only be used once.
Players can get player cards, sell them on an open market for cash within the game, or trade them with other players. For football fans, this could be a sign of what the Premier League has in store for the future.
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