Patent and trademark filings continue to grow for the metaverse with public companies and celebrities among the people betting on growth in the technology or protecting their brand in the sector.
What Happened: A recent filing by oil giant Chevron Corp CVX reveals the company could have plans in the future for convenience stores and gas stations in the metaverse.
The trademark filings, which were filed on Mar. 2, 2022 call for the Chevron brand to have downloadable virtual goods including convenience store products, gas, fuel, lubricants and renewable energy products.
Why It’s Important: The shared filing was met with some criticism, as it doesn’t seem likely that vehicles in the metaverse will run on gas.
This could be a filing by Chevron, like many other companies, as more of a way to protect its brand and keep other companies from using it in the new growth sector.
If virtual gas does become a thing for vehicles in the metaverse, Chevron could quickly have a first mover advantage.
Price Action: Chevron shares are up 36% year-to-date in 2022.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Visit Benzinga's Crypto Homepage - 1,000,000+ depend on Benzinga Crypto every month