CVS looks towards the metaverse

CVS, a major pharmacy and health clinic provider, has filed for metaverse-related trademarks

US-based healthcare provider CVS Health has joined the swelling ranks of prominent American corporations that are preparing for the potential rise of the metaverse. 

Trademark applications filed

In documents filed with the US Patent and Trademark Office at the end of February, the company applied to trademark its logo and open an online store, while announcing its intention to offer downloadable virtual products that include “prescription drugs, health, wellness, beauty and personal care products”.

Indicating an ambition to provide the same kinds of health services that are currently available in CVS stores in a virtual reality setting, CVS said it would provide “non-emergency medical treatment services, wellness programmes, advisory services related to nutrition, health, lifestyle and nutrition services and counselling.”

Metaverse expanding

Although the fields of virtual reality (VR) and augmented reality (AR) technology have seen both innovation and adoption increase steadily over the past decade, Facebook’s decision to rebrand as Meta in October 2021 can be said to have constituted a watershed moment for the metaverse, and one that has influenced wider corporate attitudes. 

Already, the likes of Walmart and McDonalds have filed metaverse-related patents and trademarks. The latter filed to trademark its name, logo and McCafe brand last month. The move could ultimately result in virtual McDonalds restaurants offering real and virtual food via NFTs, merchandise and home delivery. 

The metaverse has not been enthusiastically welcomed by all corporations, however. Last month, Bernard Arnault, who is the CEO of LVMH and France’s richest man, described the concept as “thought-provoking” but said that “we have to be wary of bubbles”. 

“At this stage, we are very much in the real world, selling real products. We are not interested in selling virtual sneakers for 10 euros. We’re not into that,” Arnault said.

Further reading

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
iPhone Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with the help of crypto or fiat
iMac Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with the help of crypto or fiat
iMac Image