According to a Twitter post by trademark attorney Mike Kondoudis, South Korean automaker Hyundai has revealed plans for the metaverse that include NFTs and virtual products. The company intends to offer non-fungible tokens (NFTs) and publish NFT-backed media content.
Hyundai has more plans for the Metaverse!#Hyundai has filed a US trademark application for
▶️ NFTs +NFT-backed media
▶️ Issuing, trading, and verifying NFTs
▶️ Virtual clothing, footwear, sports gear
▶️ Virtual avatar + car images
…and more#NFTs #Metaverse #Web3 #Autonews pic.twitter.com/qmdpRbtvvj— Mike Kondoudis (@KondoudisLaw) July 11, 2022
In addition to NFTs and media, Hyundai plans to create a range of virtual products for simulation and virtual reality, including toys, sports equipment, headgear, clothing, footwear, eyewear, images, and artwork.
The company also released a short film clip outlining its “metamobility” concept, a vision that blends mobility, virtual experiences, and digital ownership.
Major brands jump into the metaverse bandwagon
Hyundai is not the first automaker to explore NFTs and the metaverse. Other manufacturers, including Mercedes-Benz, have been active in the space. Hyundai, however, aims to differentiate itself by building a community-oriented collection tied to its brand.
Beyond automakers, well-known companies from other sectors are also experimenting with virtual products. For example, energy giant Chevron has explored metaverse offerings related to fuel and renewable energy concepts. The growth of the metaverse ecosystem is reflected in the labor market: since October, job postings related to the metaverse have reportedly risen substantially.
Despite rapid industry momentum, some experts caution that the metaverse remains loosely defined. Ethereum co-founder Vitalik Buterin has noted there is no single agreed-upon definition of the metaverse nor a single enabling technology, highlighting the evolving and fragmented nature of the space.