Yum! Brands has filed for NFT trademarks for KFC, Pizza Hut and Taco Bell. According to the US Patent and Trademark Office, trademarks have been filed for those three brands for virtual F&B products as well as downloadable multimedia files containing artwork, text, audio and video relating to restaurants, foods and beverages. It also covers downloadable virtual goods such as NFTs, digital tokens; downloadable loyalty cards; and downloadable video game software featuring NFTs and other virtual goods.
Additionally, the trademark includes operating a virtual restaurant featuring actual and virtual goods as well as home delivery. The trademarks for KFC included the bucket logo with an image of Colonel Sanders and the terms "KFC" and "Kentucky Fried Chicken". Pizza Hut's trademark covers the brand's logo as well as the name. Meanwhile, Taco Bell's trademark covers the brand name. Yum! Brands joins a list of other brands that have filed trademarks in the NFT space, from Nike, Dunkin' and Burger King to Playboy, FENTY, and McDonald's.
NFTs became mainstream in 2021 and by the end of the year, approximately US$41 billion had been spent on NFTs, the Financial Times reported. FT said that US$40.9 billion in total went into the ethereum blockchain contracts that are normally used to create NFTs from January to 15 December. Meanwhile, the global art market in 2021 was worth US$50.1 billion.
NFT became such a hot topic that the South China Morning Post even spun off its blockchain-based NFT business to form a new company known as Artifact Labs with SCMP CEO Gary Liu at the helm. He remains as CEO for the Post until a replacement is found.
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