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

key takeaways

  • “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:

  • Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam.
  • Empire: Start your morning with the top news and analysis to inform your day in crypto.
  • Forward Guidance: Reporting and analysis on the growing intersection of crypto and macroeconomics, policy and finance.
  • 0xResearch: Alpha directly in your inbox. Market highlights, data, degen trade ideas, governance updates, token performance and more.
  • Lightspeed: Built for Solana investors, developers and community members. The latest from one of crypto’s hottest networks.
  • The Drop: For crypto collectors and traders, covering apps, games, memes and more.
  • Supply Shock: Tracking Bitcoin’s rise from internet plaything worth less than a penny to global phenomenon disrupting money as we know it.
Tags

Upcoming Events

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

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

Bluefin possibly stands at an inflection point. The token is near an all-time low yet the protocol’s spot volume market share and derivatives exchange usage have been increasing month over month since its November launch. Given its current market position and the upcoming upgrades (for both Bluefin and SUI), there may be upside potential before the increased supply growth in December. However, strong opposition from existing competitors (like Cetus and Suilend), as well as new entrants (like Aftermath), pose key challenges to Bluefin’s medium-term success.

article-image

Top Committee Democrat Sen. Elizabeth Warren in her opening statement accused Atkins of “helping billionaire CEOs like Sam Bankman-Fried”

article-image

Introducing garbled circuits for enhanced privacy and regulatory compliance

article-image

Ross Ulbricht was a freedom maximalist building freedom tech, powered by Bitcoin

article-image

Solana validators can reap benefits including payments, votes and community clout

article-image

Sponsored

WalletConnect is cementing itself as the essential connectivity layer, ensuring wallets remain the entry point for billions of users

article-image

According to a legal filing, Galaxy Digital helped boost the price of LUNA while quietly selling its tokens