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CVS Eyes Metaverse With 4 NFT-Related Trademarks

The drugstore chain plans to offer virtual prescription drugs, wellness products and other merchandise authenticated by NFTs.

By Eli Tan
Updated May 11, 2023, 4:08 p.m. Published Mar 4, 2022, 4:24 p.m.
SAN FRANCISCO, CA - NOVEMBER 05: Pedestrians walk by a CVS store on November 5, 2013 in San Francisco, California. CVS Caremark reported a 25 percent surge in third-quarter earnings with profits of $1.25 billion, or $1.02 per share, compared to $1.01 billion, or 79 cents a share one year ago. (Photo by Justin Sullivan/Getty Images)
SAN FRANCISCO, CA - NOVEMBER 05: Pedestrians walk by a CVS store on November 5, 2013 in San Francisco, California. CVS Caremark reported a 25 percent surge in third-quarter earnings with profits of $1.25 billion, or $1.02 per share, compared to $1.01 billion, or 79 cents a share one year ago. (Photo by Justin Sullivan/Getty Images)

Popular drugstore chain CVS is preparing to enter the metaverse and digital goods industry, according to a series of Feb. 28 trademark filings made public on Friday.

In its filing under its corporate CVS Health (CVS) name, the company lays claim to “downloadable virtual goods, namely, a variety of consumer goods, prescription drugs, health, wellness, beauty and personal care products and general merchandise for use online and in online virtual worlds.”

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The filing, which was submitted under the entertainment and amusement category, also mentions non-fungible tokens (NFT) and “crypto-collectibles.”

CVS is just the latest of many brands to begin its metaverse journey with trademark filings, but its bid to offer virtual health care services in a metaverse environment could be the first of its kind.

Other brands that have filed trademarks for NFT-related ventures this week alone include clothing brand Wrangler, athletic apparel company Champion and restaurant chain Wingstop (WING). At the end of December, Walmart (WMT) filed several trademarks that signaled its plan to make and sell virtual goods in the metaverse as well.

A representative from CVS did not respond to CoinDesk’s request for comment by the time of publication.

MetaverseTrademark
Eli Tan

Eli was a news reporter for CoinDesk who covered NFTs, gaming and the metaverse. He graduated from St. Olaf College with a degree in English. He holds ETH, SOL, AVAX and a few NFTs above CoinDesk's disclosure threshold of $1000.

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Eli Tan