CVS Health (NYSE: CVS) is preparing to dive into the metaverse after the company filed for a trademark to sell virtual goods, NFTs, and provide health care services.
“CVS clearly sees the potential of the Metaverse and is preparing its trademarks the coming economy of virtual goods and services,” said Metaverse trademark attorney Michael Kondoudis.
The drugstore filed a total of four trademark applications for CVS, CVS Pharmacy, CVS Health, as well as its popular heart logo. Kondoudis stated that these trademark filings “follow the trend by other retailers like Walmart to begin preparations to participate in the Metaverse.”
“Perhaps most interesting about the applications is that they indicate an intention to operate online virtual stores ‘for the sale of a wide variety of non-virtual consumer goods,’ which is probably one of the more immediate ways for a retailer to monetize the Metaverse,” Mr. Kondoudis opined.
Within the filing, CVS says it intends to provide nutrition and wellness coaching, such as non-emergency medical treatment services, wellness programs, advisory services linked with nutrition, counseling, and health lifestyle and nutrition services.
According to trademark attorney Josh Gerben, there has been an influx of corporate metaverse filings ever since Facebook disclosed its name change to Meta.
“All these Fortune 500 companies are making trademark filing with the idea of ‘How are we going to play on this platform?’” said Gerben, founding partner of Gerben Perrott law firm. But, he added, “I don’t think I’ve seen anything in the last couple of months that’s been like this CVS filing as a virtual healthcare clinic.”