The prestigious fashion brand Hermes is preparing to step into the virtual realm by releasing NFTs.

Luxury brand Hermes has officially announced its commitment to the Web3 fashion sector. Their strategy includes rolling out virtual fashion items, NFTs, and cryptocurrency integrations as well as hosting metaverse fashion events. This announcement follows their trademark application filed on August 26.

Michael Kondoudis, a trademark attorney, shared insights about Hermes’s application made to the United States Patent and Trademark Office.

Hermès is planning to explore the metaverse by developing software designed for NFT management and cryptocurrency transactions. Among their objectives are the launch of a virtual retail outlet and the organization of fashion exhibitions that incorporate augmented reality and mixed reality technologies, alongside an NFT marketplace. Additionally, they aim to offer financial services based on virtual currencies and engage in fundraising and sponsorship opportunities related to digital products.

Several months ago, Hermès filed a lawsuit against Mason Rothschild, the digital artist behind the MetaBirkin NFTs, created virtual bags that mimic the iconic Birkin bags by Hermès, which can fetch prices upwards of $45,000, collectively amassing over $1 million in sales. This legal battle may have motivated Hermès to venture into the Web3 space, ensuring they have legal safeguards in the metaverse.

The legal tussle between Hermès and Rothschild has been one of the most talked-about controversies within the NFT scene. Rothschild responded to accusations of copyright infringement by asserting that his creations are merely a whimsical interpretation of a significant element in fashion culture.

The fashion industry is increasingly becoming one of the most dynamic sectors in the metaverse. Prada , Gucci , and Balenciaga Several exclusive NFT collections have already made waves. Nike Renowned for its virtual sneaker offerings, has made significant strides in this domain. uk Other high-profile fashion labels that have reaped millions through their NFT ventures include Dolce & Gabbana, Tiffany & Co., Gucci, and Adidas. NFTs are also set to play a crucial role in... uz .