KFC, Pizza Hut, and Taco Bell Plan NFTs and Metaverse Entries
- Three big names in the food industry have filed NFT and Metaverse trademark applications.
- KFC, Pizza Hut, and Taco Bell follow in the footsteps of McDonald’s that went Metaverse for the Lunar New Year.
- More are likely to follow to ensure they don’t miss out on NFT and Metaverse opportunities.
Despite continued government and regulatory scrutiny, more and more mainstream names are going virtual.
NFTs enable greater consumer engagement, with the Metaverse offering boundless opportunities and boundaryless revenue streams. Decentraland (MANA) and the Sandbox (SAND) are the two big Metaverse names.
In February, JPMorgan projected a $1 trillion Metaverse, indicative of the furor surrounding the Metaverse. The NFT space and the Metaverse have seen activity pick up markedly in recent months. Mainstream players are filing NFT and Metaverse-related trademarks to avoid being left behind.
Fast-food Giants File NFT and Metaverse-Retailed Trademark Applications
It’s been a busy few months for Metaverse trademark lawyers. On Wednesday, Mike Kondoudis took to Twitter to announce Kentucky Fried Chicken (KFC), Pizza Hut, and Taco Bell trademark applications.
The fast-food names that fall under Yum! Brands filed trademark applications for their names and logos for:
- Virtual foods + drinks
- NFTs + NFT backed multimedia
- Online stores featuring virtual goods.
- Virtual restaurants with “actual and virtual goods”
Yum! Brands Follows McDonald’s and Other Big Names into the Metaverse
In February, McDonald’s entered the Metaverse, in celebration of the Lunar New Year and the Year of the Tiger.
McDonald’s partnered with Humberto Leon to dish out a zodiac collection in the Metaverse. For McDonald’s, it was consumer engagement at its best. Fans could view the Zodiac collection, have horoscope readings, relax in the McDonald’s lounge, light lanterns to release into the sky, and even give hongbao (red packets).
Since the Lunar New Year collaboration, McDonald’s also filed crypto, NFT, and Metaverse trademark applications.
Other food industry names, including Wendy’s, Panera Bread, Panda Express, Hooters, Dunkin Donuts, and Burger King, as well as Guy Fieri’s Flavortown, have also filed trademark applications.
The sheer number of applications filed this week alone suggests that a Metaverse Revolution is afoot. Other big names in the food industry will undoubtedly follow in what could also materially alter interaction with consumers.
According to Statista, McDonald’s spent approximately $654.7m on advertising worldwide in 2020. Direct access to consumers in the Metaverse would materially improve the bottom line for McDonald’s and other big ad spenders in the food industry.