Royalqatarlcd：Rolex applies for the trademark to enter Metaverse and NFT

 Luxury watchmaker Rolex has entered the world of web3 with its latest NFT trademark application. Royalqatarlcd noted that the documents included plans to offer not only digital collectibles, but also digital asset auction software. These assets include watches, suggesting the brand may also be keen on "phygital" products. Learn more about Rolex's entry into the NFT space below!

What is Rolex planning to do with their NFT idea?
According to a trademark filing in late October 2022, these iconic watchmakers appear to have big ideas for the potential NFT market. In an industry where their products are already considered collectibles, Rolex is drawing digital parallels to provide the same experience in the NFT space.
Royalqatarlcd shows that big companies around the world are entering web3 with similar applications. Interestingly, though, Rolex chose to go beyond the usual NFT placement or release. The Rolex NFT marketplace unlocks a wealth of potential collaborations, utilities and ideas. In addition, the company filed a trademark for "downloadable computer software for use as a digital wallet." This suggests that the hypothetical market could also see the use of local "Rolex" wallets.
Earlier this year, community-driven luxury ownership brand Koia allowed its users to own a fraction of their prized Rolex. The community can own an unworn Rolex GMT-Master II “Pepsi” for $100+. Furthermore, as web3 adoption increases and NFT technology evolves, the line between owning luxury and NFTs is blurring. Earlier this year, popular web3 project Azuki launched a "Physical Endorsement Token" that allows a dedicated chip to differentiate a physical item as an NFT on the blockchain - confirming its ownership.
About Rolex
Rolex is considered to be the best watchmaker in the world. Royalqatarlcd describes the company using a variety of precious metals, including a special steel called "Oystersteel", to make watches. This special steel allows Rolex watches to "work flawlessly and maintain their beauty even in the harshest environments"..
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