Parkersburg, WV, March18, 2022(GLOBE NEWSWIRE) -- Kronos Advanced Technologies, Inc., (OTC: KNOS), revenue-generating product development and production company that has significantly changed the way indoor air is filtered and disinfected, announces the filing of trademark brand to be used in the Metaverse.
Kronos joins Meta's and Nike's lead along with early retail companies that have filed trademarks to sell virtual goods and services. The virtual Metaverse, a three-dimensional online world that incorporates an enhanced reality with other emerging technologies, is welcoming new brands daily. With the rise of NFTs and Web3 technologies, the next generation of the internet, brands ranging from Nike, Walmart, McDonald's, and many other world-leading brands have actively sought to claim prospective assets by filing Metaverse specific trademarks. The United States Patent and Trademark Office has seen a sharp increase in registrations for brands to protect themselves in these virtual digital worlds.
"We think it's a win-win for Kronos to stay ahead of the competition online and retail to develop a virtual Metaverse commerce," Michael Rubinov, Kronos CEO, commented. "We plan to file a series of Metaverse related trademarks in the future. This trademark is in line with our Metaverse store that will be launched this year.”
Bloomberg recently reported that Metaverse might soon be an $800 billion market, next advanced tech platform. The following analysis is by Bloomberg Intelligence Senior Industry Analyst Matthew Kanterman and Bloomberg Intelligence Industry Analyst Nathan Naidu. It appeared first on the Bloomberg Terminal: "The Metaverse is the next big technology platform, attracting online game makers, social networks, and other technology leaders to capture a slice of what we calculate to be a nearly $800 billion market opportunity. Social, persistent, shared, virtual 3D worlds, the Metaverse is the convergence of the physical and digital realms in the next evolution of the internet and social networks using real-time 3D software. It presents an opportunity for leading online entertainment and social media companies to capitalize on new revenue streams. We've constructed a global metaverse theme basket to track the companies most exposed across industries. To be included, members must expect to generate a meaningful portion of revenue from platforms, experiences, and transactions in virtual reality.
Metaverse could approach $800 billion tackling live events, ads (revenue).
The global Metaverse revenue opportunity could approach $800 billion in 2024 vs. about $500 billion in 2020, based on our analysis and Newzoo, IDC, PWC, Statista, and Two Circles data. The primary market for online game makers and gaming hardware may exceed $400 billion in 2024 while opportunities in live entertainment and social media make up the remainder."
CNBC recently reported that Walmart appears to be venturing into the Metaverse with plans to create its own cryptocurrency and collection of non-fungible tokens or NFTs.
The big-box retailer filed several new trademarks late last month that indicates its intent to make and sell virtual goods, including electronics, home decorations, toys, sporting goods, and personal care products. In a separate filing, Walmart said it would offer users virtual currency, as well as NFTs.
According to the U.S. Patent and Trademark Office, Walmart filed the applications on December 30. In total, seven separate applications have been submitted.
In a statement, Walmart said it is "continuously exploring how emerging technologies may shape future shopping experiences." It declined to comment on the specific trademark filings.
"We are testing new ideas all the time," the Company added. "Some ideas become products or services that make it to customers. And some we test, iterate, and learn from." Nike filed a slew of trademark applications in early November that previewed its plans to sell virtual branded sneakers and apparel. Later that month, it said it was teaming up with Roblox to create an online world called Nikeland. In December, it bought the virtual sneaker company RTFKT (pronounced "artifact") for an undisclosed amount.
About Kronos Advanced Technologies, Inc.
Kronos is focused on next-generation wellness consumer electronics products and PPE solutions. The Company was founded in 2002 and funded by the U.S. military to develop electrostatic air movers. Eventually, the Company moved into the consumer air purification business. It began operations as a product development company that invented and significantly changed the way air is pushed, filtered, and sterilized. Historically, Kronos has focused on developing, marketing, and selling the Company's proprietary air movement and purification technology. Serving the Indoor Air Quality (IAQ) market, Kronos technology uses state-of-the-art high voltage patented processes without the use of traditional porous HEPA filters. Kronos-based products move air silently, filter, sterilize, and purify the air while dramatically reducing energy consumption to half a 60-watt light bulb. Kronos devices can be variable in shape or size and, therefore, have the potential to be scaled-down for air purification in cars or scaled-up in size for industrial and hazardous gas destruction. The technology is currently being implemented in multiple standalone products for businesses, homes, and vehicles of all types to move, sterilize, and filter air, including removing allergens down to 14.6 nanometers by the passing of air through our patented technology. In addition, there are broad ranges of additional markets for standalone and embedded Kronos CORE technology-based devices. Immediately addressable markets are schools, universities, healthcare facilities, operating rooms, manufacturing clean rooms, and automobiles and commercial aircraft cabins.
The Company supports KronosFoundation.org, which encourages people to make positive change while it helps others to breathe safe air by donating air purifiers locally and nationwide through campaigns that make an impact.
Kronos published research about the effectiveness of Kronos Patented technology on air disinfection n (e.g., microorganism destruction) by demonstrating the high efficacy of Kronos® Technology-based air purifiers in capturing and destroying various types of microorganisms (including Corona Viruses) in different environmental settings back in 2008. Results of this research showed that Electrostatic Air Filtration and Purification systems based on Kronos technology demonstrated high capturing and destruction efficiency for different types of microorganisms, bacteria, and viruses, and can be successfully used for disinfection of air in real word environmental settings, including hospital facilities both with and without the presence of people.
BusinessWeek called Kronos air purifiers "VIRUS KILLER" in 2005.
Kronos is the first publicly traded Company that accepts Dogecoin as a form of payment for its products, as well as other cryptocurrencies.
Recently, the Company filed for a provisional patent involving an innovative protective face mask with antimicrobial and anti-cellphone radiation protection features. The Company is planning to file additional patents to improve its existing technology as well as enter into new market segments but will continue to market air purifiers and other consumer products. The Company is an exclusive distributor and licensee of the latest generation of air purifiers based on the Company's CORE technologies. The Company markets its products as Airdog® and KRONOS® brands. All Kronos products come with Kronos Promise ™ -Your Satisfaction is Guaranteed!
Company offices are located in Parkersburg, WV.
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This news release does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or any other product or service by Kronos Advanced Technologies Inc or any other third party regardless of whether such security, product, or service is referenced in this press release. Furthermore, nothing in this press release is intended to provide tax, legal, or investment advice, and nothing in it should be construed as a recommendation to buy, sell, or hold any investment or security or to engage in any investment strategy or transaction. Kronos Advanced Technologies does not represent that the securities, products, or services discussed in this press release are suitable for any particular investor. You are solely responsible for determining whether any investment, investment strategy, security, or related transaction is appropriate for you based on your personal investment objectives, financial circumstances, and risk tolerance. You should consult your business advisor, attorney, and/or tax and accounting advisor regarding your specific business, legal, or tax situation.
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Kronos Advanced Technologies investors and others should note that we announce material information to the public about the Company through various means, including our website (https://www.kronosati.co/investors), through press releases, OTCmarkets filings, public conference calls, via our corporate Social Media accounts, listed above.
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Kronos uses a variety of methods to test the functionality of our air purification and PPE products. Customers should evaluate their specific application and environmental conditions when making an assessment regarding the technology's potential benefits. Our customers should also use reasonable safety precautions to prevent the transmission of pathogens, including SARS-CoV-2. While our products provide significant advantages, you cannot rely solely on our products to contain Covid or prevent its spread. It is essential to comply with all applicable public health laws and guidelines issued by national, federal, state, and local authorities, including guidance published by the Centers for Disease Control and Prevention (CDC), including but not limited to social distancing, hand hygiene, cough etiquette, and the use of face masks.
SOURCE: KRONOS ADVANCED TECHNOLOGIES, Inc
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