CVS becomes the FIRST pharmacy in the metaverse

  • Pharmaceutical giant CVS became the first major pharmacy to apply to register its logo WITHIN THE METAVERSE.
  • The pharmacy will offer downloadable virtual products including prescription drugs and health products.
  • The company also wants to bring the health services it offers in stores, such as consultations, to the virtual environment.

On February 28, the pharmaceutical giant became the first major pharmacy chain to introduce a application before the US Patent Trade Office. to register your logo WITHIN THE METAVERSE and offering an online store and providing downloadable virtual goods, more commonly known as non-fungible tokens, or NFTs, in the form of “prescription drugs, health, wellness, beauty, and personal products,” according to CNBC.com.

The filing says that CVS you want to register your logo and open an online store, while offering downloadable virtual products including “prescription drugs, health, wellness, beauty and personal care products.”

WHAT DID THE PHARMACY SAY BEFORE ITS INCORPORATION WITHIN THE METAVERSE?

“We are … regularly looking for new and innovative ways to engage consumers through a digital-first and advanced technology approach,” a CVS spokesperson told CNBC. “We will continue to explore these and other options to enhance the consumer experience and launch new consumer-focused services.”

The pharmacy also wants to bring the health services it offers in stores to the metaverse

The company also wants to bring the health services it offers in stores to the virtual environment, saying it would provide non-emergency medical treatment services, wellness programs, nutrition-related counseling services, healthy nutrition and lifestyle services…and counseling.”

The big question is whether consumers are ready for these new services.

Trademark attorney Josh Gerben told CNBC that there has been a wave of corporate metaverse filings since Facebook changed its name to Meta last year.

“All these Fortune 500 companies are filing trademarks with the idea of ​​’How are we going to play on this platform?’” said Gerben, founding partner of the law firm Gerben Perrott. But, he added, “I don’t think I’ve seen anything in the last few months that has been like this presentation of CVS as a virtual health care clinic.”

WHAT OTHER GIANTS ARE PREPARED TO ENTER THE METAVERSE?

Among those companies is McDonalds. As has been reported, the fast food giant has requested various trademarks for your name, logo, McCafé, and the rights to various treats.

The chain’s virtual restaurant will offer real and virtual food delivery, downloadable media files, non-fungible tokens (NFTs) and merchandise. McDonalds isn’t the only quick-service restaurant that wants to invite people to dine in the Metaverse. Panera Bread recently filed its own trademark application or a virtual coffee chain called “Paneraverse”.

What is the metaverse, anyway?

The term “metaverse” entered the mainstream when Facebook renamed as “Meta” in October 2021, but the concept is not new.

However, it is generating interest among certain segments of the population. Bloomberg.com predicts that the metaverse could be an $800 billion market by 2024driven largely by online video games and social media.

Where does health care fit in?

However, a lack of understanding or even knowledge of the metaverse hasn’t stopped big companies like Walmart, Nike, Wrangler, and the restaurant chain Wingstop from filing trademarks for NFT-related businesses.

The health care industry is also part of the growing momentum in the metaverse space, with virtual reality (VR), augmented reality (AR), mixed reality (MR) and artificial intelligence (AI) playing a role. paper. As a recent white paper published by Fount Investment Company LimitedAR and VR technology is already “widely” used in medical trainingincluding surgical procedures and training in response to COVID, as well as in the design of operating rooms.

“Although metaverse technologies are not fully developed, their elements are proving to be undeniably advantageous in the field of medicine,” Bong-Geun Choi, chief economist at Fount Investment said in the white paper, titled “Is the metaverse the new frontier for health care?” “We hope that metaverse technologies will advance medical training and procedures and improve overall patient care.”

It remains to be seen how CVS and other pharmaceutical companies will fit into the metaverse, but CVS is being hailed as a pioneer in this area.

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