Rihanna's Fenty Beauty Could Soon Be Coming To The Metaverse

Singer and billionaire beauty mogul Rihanna plans to take her Fenty Beauty brand into the metaverse, according to the news website Boardroom.

What Happened:  Rihanna has filed for a trademark to sell virtual cosmetics under the Fenty brand, according to the report, which cited trademark attorney Josh Gerben of Gerben Law.

The trademark includes the rights to sell downloadable virtual goods including makeup and hair accessories, skin care preparations, soaps, and perfumes for use in online virtual worlds.

It also includes retail store services that will feature goods for online use as well as virtual merchandise.

Why It Matters: Over the last year, several major brands have signaled their intent to build their brands in the metaverse.

In November 2021, Nike NKE filed a series of applications with the U.S. Patent and Trademarks Office to register “Nike,” the slogan “Just Do It,” and its swoosh logo.

A month later, rival sportswear manufacturer Adidas ADDYY released an NFT collection dubbed “Into The Metaverse," which sold out and netted the company $23.5 million.

The demand for a presence in the virtual space isn’t just limited to retail brands. Wall Street banking giant JPMorgan Chase & Co. JPM opened a lounge in blockchain-based virtual world Decentraland MANA/USD. The lounge was named “Onyx" after its platform of Ethereum ETH/USD based services. 

Price Action: At press time, Ethereum was trading at $2,764, up 5.51% in the last 24 hours.

Photo by SIGMA on Wikimedia