CVS wants to establish itself as the first pharmacy in the virtual world, thus has filed a trademark application to sell downloadable virtual goods in the metaverse. It cited prescription drugs, beauty, and personal care products in the application. The health services company also included crypto-collectibles, such as NFTs.
CVS, in its filing, highlighted providing nutrition and wellness coaching, wellness programs, advisory services related to nutrition, non-emergency medical treatment services, providing healthy lifestyle and nutrition services, as well as counseling.
Josh Gerben, a founding partner of Gerben Perrott – a law firm, says that ever since Facebook declared changing its name to Meta, there has been a flurry of corporate metaverse filings. He revealed that the Fortune 500 companies are making trademark filing with the idea of how they are going to play on the platform.
Gerben said he hasn’t seen anything in the last couple of months like the CVS filing wanting to be a virtual healthcare clinic. The attorney said they are looking at new and innovative ways to engage consumers through a digital-first, technology-forward approach.
Noah Gaynor, the co-founder of Parcel – an NFT real-estate startup, believes the application shows that more companies are looking to plant their flag in the metaverse. He said its a confirmation that all consuming-facing brands, irrespective of the industry, regard the metaverse as the new frontier in reaching customers. The businesses are devising a metaverse strategy to sell their digital goods and services.
Jenna Pilgrim, the CEO of Rite Network, highlighted that the influx of applications is a positive signal to the market. It shows that brands are focused and ready to meet up the ever-changing demands and needs in the market. Pilgrim said it is a form of legitimacy for metaverse applications.
But the applications have to go farther for the protection of real assets to build on the metaverse.