Rolex appears to be the latest luxury brand to dive into the metaverse.

According to data released by the law firm of Michael E. Kondoudis, the prominent Swiss watchmaker filed a cryptocurrency-focused trademark application with the United States Patent and Trademark Office (USPTO) on Oct. 31. The application suggests plans to introduce NFTs, NFT-backed media, NFT markets, cryptographic keys and virtual goods transactions and auctions, as well as virtual and cryptocurrency exchange and transfer.

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Does this mean that digital avatars will wear Rolex watches in virtual reality? Perhaps, but based on the app, it’s not entirely clear how Rolex plans to enter the space. It is very possible that the brand could present a digital collection that will boost Rolex…