CVS Files for NFT-related Trademarks in the Metaverse

The US-based drugstore chain joins large retailers Nike and Walmart in filing for metaverse-related trademarks

article-image

Source: Shutterstock

share
  • “This signals that brands are paying attention [to the metaverse,] meaning they are staking their claim similar to how people sit on domain names,” Jenna Pilgrim, a blockchain startup exec, told Blockworks
  • CVS mentioned NFTs and blockchain technology in its application

CVS filed a trademark application to sell “downloadable virtual goods” in the metaverse, looking to establish itself as the first pharmacy in the nascent virtual space. 

The health services company cited prescription drugs, beauty and personal care products in its application, along with “crypto-collectibles” such as NFTs.

The application, which was filed under the entertainment and amusement category on Feb. 28, was not made public until Friday.

Noah Gaynor, co-founder of NFT (non-fungible token) real-estate startup Parcel, told Blockworks that the application signals that more companies are “looking to plant their flag in the virtual ground” of the metaverse.

“I’d say it’s further confirmation that all consumer-facing brands, no matter the industry, are viewing the metaverse as the new frontier in reaching customers — through digital goods and services — and are therefore devising a metaverse strategy,” Gaynor said.

CVS joins the likes of big-name retailers Nike and Walmart in filing for metaverse-related trademarks. The sneaker company filed seven requests for patents and trademarks on virtual goods last year — including clothing, sports bags, art and accessories.

Jenna Pilgrim, CEO of blockchain startup Rite Network, told Blockworks that the influx of applications is a “positive signal to the market.”

“This [shows] that brands are paying attention, meaning they are staking their claim similar to how people sit on domain names. This strikes me as a form of legitimacy for metaverse applications,” Pilgrim said. 

“Obviously, these applications have much farther to go for the protection of real assets that they would build in the metaverse, but it’s a cute first step.”

 CVS did not immediately respond to Blockworks’ request for comment.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.jpg

Research

Figure, founded by former SoFi CEO Mike Cagney, has emerged as a leader in onchain RWAs, with ~$17.5B publicly tokenized. The platform’s ecosystem volume is growing ~40% YoY as it expands beyond HELOCs into student loans, DSCR loans, unsecured loans, bankruptcy claims, and more. Operationally, Figure cuts average loan production cost by ~93% and compresses median funding time from ~42 days to ~10, creating a durable speed-and-cost advantage.

article-image

The reserve will collect protocol revenues to back W token, alongside new yield and unlock schedule

by Blockworks /
article-image

Layer 2 network Taiko integrates Chainlink Data Streams to deliver reliable onchain market data for DeFi and institutions

by Blockworks /
article-image

The license will allow Bullish to operate in New York under strict digital asset rules

by Blockworks /
article-image

The derivatives giant expands crypto offerings with new Solana and XRP futures options, pending regulatory review

by Blockworks /
article-image

Nasdaq-listed firm to fund Solana token purchases and expand its blockchain-focused treasury strategy

by Blockworks /
article-image

The partnership deepens liquidity and lowers conversion costs as demand for regulated stablecoins grows worldwide

by Blockworks /