Cannabis Trademarks in the Metaverse

Cannabis Trademarks in the Metaverse
CANNANNEW REPORT

Jay Kotzker April 28, 2022 Unless you’ve been living under a rock, it is likely you have recently heard the term, metaverse. Indeed, with Facebook’s rebranding to Meta, the public has been clued in as to what big technology companies think of this burgeoning landscape. So, what exactly is the metaverse? Why have high profile brands flocked to register trademarks for their digital wares? And what does this mean for the cannabis industry? At its most basic level, a metaverse is a network of 3D virtual worlds focused on social connection. Indeed, 90% of the time someone could replace the word “metaverse” with “cyberspace” and it still have the same meaning. You see, “metaverse” doesn’t necessarily refer to a specific kind of technology but rather a new way to engage with existing technology and one another. It’s more of an immersive, 3-dimensional internet. Currently, it can be accessed through VR goggles or less immersive in games such as Fortnite accessed through smartphones, game consoles and computers. And, recent developments indicate that whatever it is, it is going to change the way we work, learn, entertain ourselves, and engage with others. In fact, there are traditional architecture firms who are currently designing educational campuses in the metaverse where students will be able to log into the virtual world. Here, they will learn, explore museums, visit the ancient wonders of the world, and interact with one another. And, of course, those students will visit the gift shop when they finish exploring. See, with the establishment of the metaverse a digital economy is naturally created, where users can buy, sell, create and barter goods and services. With this, the time is right for companies to begin thinking about possibilities in this digital world as well as the potential branding and marketing opportunities, and…

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