The recent effort by Stokely-Van Camp will add Gatorade to the growing list of multinational brands going virtual.
Stokely-Van Camp Inc, the original marketer and producer of Gatorade, has disclosed its plans to join other brands on the metaverse. According to reports, the company’s decision is far in the advanced stage as it has filed two applications with the United States Patent and Trademark Office (USPTO). The USPTO records disclose that their applications were filed for the word “Gatorade and the sports drink’s “G”-shaped orange.” Also, a black and white logo will reportedly be used for the virtual beverage product and the Non-Fungible Token (NFT).
“Getting dehydrated from a workout in the metaverse? Gatorade will have you covered. Per a trademark filing made on April 27th, Gatorade plans to soon offer “virtual beverage products,” said Josh Gerben, Trademark attorney.
The metaverse craze has seen the involvement of several food and drinks brands including Coca-Cola, McDonald’s, and Anheuser-Busch getting on board. Coca-Cola Co (NYSE: KO) announced that its most anticipated Zero Sugar Byte drink would be launched on the metaverse before making its debut in the physical world. According to an application filed in February, the world’s biggest chain of fast-food restaurants McDonald’s Corp (NYSE: MCD) also intends to produce beverage products and virtual goods.
The recent effort by Stokely-Van Camp will add Gatorade to the tall list of multinational brands going virtual. The company further added that the name and logo of Gatorade can be officially used in digital media artwork, text, audio, and video.
More Brands to Join Gatorade on the Metaverse
Gatorade is a sports drink that has an incredible market size, consumed by over 80 million people across the world. In 2021, they sold about $2.1 billion worth of products in US-based convenience stores. They also dominate the worldwide sports drink market with about 46% control. The metaverse is growing exponentially as companies are coming to terms with the impact on their revenue.
A recent Accenture survey has disclosed that metaverse will have a positive impact on businesses according to 71% of the respondents. Also, 42% said it will be transformational or breakthrough for businesses. According to Accenture’s Chief Executive Officer Julie Sweet and Chief Technology Officer Paul Daugherty, this is still the early days of the metaverse. For this reason, companies need to act quickly.
JPMorgan Chase & Co (NYSE: JPM) has also stated that the metaverse will appeal to every sector in the coming years, and will culminate in a market opportunity of over $1 trillion annual revenue. One other person who believes that the metaverse will have a massive impact on businesses isMark Zuckerberg. He recently revealed his plans of spending about $10 billion on virtual reality software and hardware. He believes that the virtual reality world is the biggest opportunity for modern businesses since the introduction of the internet.
Excellent John K. Kumi is a cryptocurrency and fintech enthusiast, operations manager of a fintech platform, writer, researcher, and a huge fan of creative writing. With an Economics background, he finds much interest in the invisible factors that causes price change in anything measured with valuation. He has been in the crypto/blockchain space in the last five (5) years. He mostly watches football highlights and movies in his free time.
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