F&B business actively enter the METAVERSE03/11/2022
Companies are trying to protect their trademarks and exclusivity at Metaverse while continuing to work on building a digital universe…
Kraft, Moet Hennessy, Takis, Del Monte, and In-N-Out Burger recently filed for trademark protection in the US. India’s mixologists and distillers are also exploring how other liquor brands are entering the metaverse and what this means for the future of the F&B industry.
In 2021, while the cryptocurrency market continued to increase in price, NFT also created a fever at that time. Now, as the initial hype has subsided, the real opportunities in the digital space also become more apparent. Food companies are experimenting with new markets brought about by this Internet-based technology.
Through Metaverse, companies can market new products, offer discounts to customers, and boost brand loyalty through fun mini-games…
In-N-Out Burger is looking to offer virtual food and drinks online (but not downloadable) for use in a virtual environment. The company also intends to protect its digital brand by seriously building a separate online retail space.
Fast food competitors are months ahead of the Metaverse experience. Wendy’s launched Wendy’s Verse in April inside the Metaverse Horizon world of the Facebook parent company, Meta. Wendy’s has built a digital palace where “the bacon bridge shakes and the biscuits fly”.
Even earlier in 2021, Chipotle entered the digital space by offering 30,000 free burritos through the Roblox video game.
Besides, another fast food company that uses NFT is Starbucks, they have offered NFT in its rewards program for a month now. Taco Bell, McDonald’s, Burger King, and Pizza Hut have all released their own NFTs.
MC. Donald in the Metaverse, (Image: Internet)
Gaming culture is also moving closer to the Metaverse, with Coca-Cola revealing the “first Coca-Cola flavor” that will debut in the Metaverse this April. They will host a series of immersive experiences on the video game Fortnite. In addition, Coca-Cola also creates its own AR minigame and owns its own NFT set.
Indian Allied Blenders & Distillers has created a digital bar with its exclusive digital drinks. “This launch has attracted growing interest among consumers and experimental enthusiasts of human interaction around the world,” said Bikram Basu, the company’s director of strategy and virtual marketing”.
However, the Silicon Valley giant Meta reported a $10 billion loss from its Metaverse Reality Labs business in 2021 alone.
PROTECTION OF INTELLECTUAL PROPERTY RIGHTS
Popular food company Heinz is having to protect its brand from digital spillover, especially its Heinz ketchup name. Interestingly, the company is also moving to offer rewards and discounts that can be applied in real and online environments: “Offering a virtual restaurant where users can earn bonus points and virtual currency to buy real food and beverages in the real or virtual world”.
Despite not being able to smell cheese in the Metaverse, Kraft is still working to protect the digital intellectual property rights of Velvita and Philadelphia Cheeses. The company is also defending its iconic sausage and American meat brand Oscar Mayer. Additionally, Kraft has also filed to protect the intellectual property rights of its Lunchables food and snack brands, Jell-O gelatin, and Kool-Aid beverages.
Kraft isn’t the only food giant trying to protect its intellectual property, as Grupo Bimbo is also filing for trademark protection for two foods, Taquis Chips and Del Monte.
It is known that Mot Hennessy has also filed trademark applications for the Mot, Mot & Chandon, and Dom Perignon liquor brands. The company is also applying to create the NFT and allow access to the NFT “via QR code.” Mot Hennessy will provide tokens to customers when they purchase the company’s drinks.
In addition, Moët Hennessy is also working to protect the intellectual property of NFTs sold and exchanged in real and virtual events: “Food and beverage delivery services, bar services in the virtual online world; operate a virtual restaurant and have real and virtual objects. Virtual restaurants and bars with home delivery facilities operate online.” In addition, they also register a corporate trademark in their application.
Similarly, Jack Daniels (whiskey brand) has also applied for intellectual property rights to protect his NFT- “downloadable multimedia files”. Additionally, Scottish Whiskey brand Johnnie Walker is also delving deeper into NFT digital collectibles before releasing expensive limited edition drinks that come bundled with the NFT.
|Food & Hotel Vietnam 2022 promises to bring diverse experiences regarding the ecosystem of reputable suppliers and potential buyers in the Food & Beverage, Hotel & Resort, Restaurant, Bakery and Food Service industries. The exhibition is a platform to meet and connect, thereby extending endless business opportunities. Additionally, Food & Hotel Vietnam 2022 is also a fascinating playground for the chef and barista community with a series of programs and competitions such as Vietnam Culinary Challenge and Vietnam Barista Competition.|
Food & Hotel Vietnam 2022
Exhibition date: 07 – 09 December 2022
Opening hours: 9:00 – 17:00 daily
Venue: Saigon Exhibition & Convention Center (SECC), District 7, Ho Chi Minh City, Vietnam
Tel: +84 28 3622 2588
Email: [email protected]