The entry of Rolex into the Metaverse is signaled by the filing of a trademark application by the company.

The corresponding application describes the plan to distribute non-fungible tokens (NFTs), as well as media supported by NFTs, NFT marketplaces, auctions of virtual items, and the transaction and exchange of crypto and virtual currency. It is not clear at this time whether Rolex watches will be able to support virtual reality and digital avatars. Additionally, it is unknown how the venue will engage in the metaverse area.

A digital collection might be released by the platform, similar to what Adidas did, in order to bring the timepieces into the virtual world. This is one of the options. A recent teaser posted by Adidas hinted that the company will soon create a non-fungible token collection that will be showcased on the website of the metaverse. Because an increasing number of well-known platforms are entering this sphere in the year 2022 particularly, interest in cryptocurrencies and metaverses of all kinds has been steadily growing to an impressive degree.

The number of trademark applications concerning cryptocurrency has reached record highs in recent years. According to Mike Kondoudis, there has been an increase of around 32 percentage points in the number of applications of this kind in comparison to the previous year (the trademark attorney of the USPTO). Luxury e-commerce websites like Gucci, Hermès, and Burberry, amongst others, are joining the Web3 community at the same time that other well-known watch-making companies are doing so as well.

The luxury watch industry is increasingly looking to the world of the metaverse for inspiration.

March of the previous year was the month that witnessed the first watch NFT to be offered up for sale to the public. After that point in time, Hublot has continued to persistently broaden its scope by launching a campaign that features the most expansive venue that is now accessible within the realm of the metaverse. In addition to that, it launched a few non-fungible tokens in collaboration with Takashi Murakami (an NFT artist from Japan).

Jacob Co. and Franck Muller are two of the other watchmaker businesses that are among those that are considering the introduction of NFT timepieces in the year 2022. Other platforms, including as Breitling and TAG Heuer, have also begun exploring this area by allowing online purchases to be made in exchange for cryptocurrency payments.