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col-sm-12 col-xs-12" about="/news/cvs-files-patent-sell-goods-and-healthcare-services-metaverse" typeof="sioc:Item foaf:Document" node="142529"> <header> <div class="created-topic"> <span class="submitted">Mar 07, 2022</span> <span class="topic">More on <a href="/resource-topic/business-intelligence">Business Intelligence</a></span> </div> <h1 class="node-title">CVS files patent to sell goods and healthcare services in the metaverse</h1> <h2 class="sub-header"> CVS Health says it wants to trademark its logo and establish an online store, as well as create downloadable virtual goods. </h2> <div class="author col-md-12 col-sm-12 col-xs-12"> <div class="author-item col-md-12 col-sm-12 col-xs-12"> <div class="editor col-sm-8 col-xs-12"> <div class="author-inline "> <div class="avatar" style="background: url(https://www.healthcarefinancenews.com/sites/healthcarefinancenews.com/files/styles/avatar/public/Screen%20Shot%202015-11-24%20at%2011.54.19%20AM.png?itok=4riS_ibZ) center 0;"> <a href="/news/author/90301"><img src="/sites/healthcarefinancenews.com/themes/hfn/images/circle-over.png"></a> </div> <span class="author-name"><a href="/news/author/90301">Jeff Lagasse</a></span><span class="job-title"><strong>,</strong> Editor</span> </div> </div> <div class="social-media col-sm-4 col-xs-12"> <script type="text/javascript"> var addthis_share = { // ... other options url_transforms : { shorten: { twitter: "bitly" } }, shorteners : { bitly : {} }, passthrough : { twitter: { via: "HC_Finance" } } } </script> <script type="text/javascript">var addthis_config = {"data_track_addressbar":false};</script>  <script type="text/javascript" src="//s7.addthis.com/js/300/addthis_widget.js#pubid=ra-536be1326a353683" async="async"></script>  <div class="addthis_sharing_toolbox" data-url="https://www.healthcarefinancenews.com/news/cvs-files-patent-sell-goods-and-healthcare-services-metaverse"></div> </div> </div></div> </header> <div class="content" > <div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"><div class="companion_image companion_top"><img typeof="foaf:Image" src="https://www.healthcarefinancenews.com/sites/healthcarefinancenews.com/files/styles/companion_top/public/virtual_VR_metaverse_Kilito%20Chan_Getty%20Images.jpg?itok=wduNkjxQ" width="635" height="353" alt="" /><div class="image-field-credits"><p>Photo: Kilito Chan/Getty Images</p> </div></div><p>CVS Health has filed for a trademark that would allow it to sell goods and services in the metaverse, according to a <a href="https://tsdr.uspto.gov/documentviewer?caseId=sn97287237&amp;docId=APP20220303081509#amp%3Bpage=1&docIndex=1&page=1" target="_blank">document</a> filed with the U.S. Patent Trade Office.</p> <p>A metaverse is a network of three-dimensional virtual worlds. It's sometimes described as a version of the internet that functions as a single, digital world facilitated by the use of virtual and augmented reality headsets.</p> <p>The term has gained popularity since Facebook announced its intent to launch a metaverse, essentially providing a 3D, virtual iteration of its social media platform. Facebook went so far as to change its name to Meta, an umbrella company that owns social media platforms Facebook and Instagram.</p> <p><strong>WHAT'S THE IMPACT?</strong></p> <p>In the filing, CVS Health said it wants to trademark its logo, establish an online store and create downloadable virtual goods ranging from prescription drugs to beauty and personal care products.</p> <p>It is the first <a class="directory-item-link" href="/directory/pharma" target="_blank">pharmacy</a> to do so, though trademark attorney Josh Gerben said there's been a flurry of mataverse filings since Facebook announced the name Meta, according to <a href="https://www.cnbc.com/2022/03/04/cvs-files-to-trademark-its-pharmacy-and-health-clinics-in-the-metaverse-.html" target="_blank">CNBC</a>.聽</p> <p>CVS also wants to transition some of its in-store health services to a virtual setting, such as non-emergency medical treatment services, wellness programs, nutrition advisory services, and health lifestyle and nutrition counseling.</p> <p>The company will create its downloadable virtual goods using blockchain technology.聽Digital assets and collectibles will be sold as non-fungible tokens (NFTs).</p> <p>NFTs are poised to become a significant source of revenue for companies operating in the virtual realm, positioning CVS to potentially tap into a new and burgeoning market opportunity.聽</p> <p>The filing describes an online marketplace for buyers and sellers of downloadable multimedia files containing artwork, text, audio and video relating to retail consumer goods featuring a variety of consumer goods, prescription drugs, health, wellness, beauty and personal care products, and general merchandise authenticated by non-fungible tokens.</p> <p>CVS also plans to sell non-virtual consumer goods via the metaverse.聽</p> <p><strong>THE LARGER TREND</strong></p> <p>While CVS Health plans to up its presence in the virtual world, it will have a smaller presence in the physical one, as it announced plans in November to <a href="https://www.healthcarefinancenews.com/news/cvs-close-900-stores-over-three-year-period" target="_blank">close 900 of its stores</a> nationwide over the next three years, restructuring itself to offer more healthcare services in the remaining locations.</p> <p>The company will create three new distinct store formats aimed at driving higher engagement with consumers, meant to serve as community health destinations. These include</p> <ul><li>traditional CVS Pharmacy stores, which will provide prescription services and health, wellness and personal care.聽</li> <li>sites specializing in primary care service offerings.</li> <li>enhanced versions of HealthHUB locations, which offer screenings, monitoring, counseling and treatment options, and feature products for common health-and-wellness needs.</li> </ul><p>CVS Health has <a href="https://www.healthcarefinancenews.com/news/cvs-health-projecting-304-billion-revenue-next-year" target="_blank">projected a healthy chunk of revenue</a> in 2022, to the tune of at least $304 billion, it said during its Investor Day in December. The growth in revenue projections is due in part to a company strategy of investing in high-growth areas of the business and introducing new health products, services and technologies, which CVS said will enhance shareholder value.</p> <div style="position: relative; display: block; max-width: 100%;"> <div style="padding-top: 56.25%;"> <iframe allow="encrypted-media" allowfullscreen="" src="https://players.brightcove.net/1824526989001/default_default/index.html?videoId=6299616020001" style="position: absolute; top: 0px; right: 0px; bottom: 0px; left: 0px; width: 100%; height: 100%;"></iframe></div> </div> <p><em>Twitter:聽<a href="https://twitter.com/jeff_e_lagasse" target="_blank">@JELagasse</a><br /> Email the writer:聽<a href="mailto:jeff.lagasse@himssmedia.com" target="_blank">jeff.lagasse@himssmedia.com</a></em></p> </div></div></div> </div>  <script type="text/javascript"> window.next_post_layout = 'default'; </script> <div class="related-content clear" class="col-md-12 col-sm-12 col-xs-12"> <div class="block webinars-block"> <div class="block-title">News</div> <div class="sliders"><div class="slide col-md-12 col-sm-12 col-xs-12" > <a target="" href="/news/ending-racism-healthcare-often-begins-medical-education-and-target-new-national-project" title="Ending racism in healthcare often begins with medical education - and is the target of a new national project"> <img class="thumbnail_300x134" typeof="foaf:Image" src="https://www.healthcarefinancenews.com/sites/healthcarefinancenews.com/files/styles/thumbnail_300x134/public/black_patient_doc_vaccine_FG%20Trade_Getty%20Images.jpg?itok=hUCNSPlz" width="300" height="134" alt="Ending racism in healthcare often begins with medical education - and is the target of a new national project" /> <span class="title">Ending racism in healthcare often begins with medical education - and is the target of a new national project</span> </a> <span class="webinar-teaser">Inequities can be found in every facet of the industry, but targeting medical students and residents can help stem the tide.</span> </div><div class="slide col-md-12 col-sm-12 col-xs-12" style="display: none;"> <a target="" href="/news/healthcare-organizations-ask-hhs-delay-quality-measure-reporting-acos" title="Healthcare organizations ask HHS to delay quality measure reporting for ACOs"> <img class="thumbnail_300x134" typeof="foaf:Image" src="https://www.healthcarefinancenews.com/sites/healthcarefinancenews.com/files/styles/thumbnail_300x134/public/QualityReportingJoseLuisPelaez.jpg?itok=cAwVos3P" width="300" height="134" alt="Healthcare organizations ask HHS to delay quality measure reporting for ACOs" /> <span class="title">Healthcare organizations ask HHS to delay quality measure reporting for ACOs</span> </a> <span class="webinar-teaser">The American Hospital Association and American Medical Association are among the 11 organizations signing the letter.</span> </div> </div> </div><div class="clear"></div></div> </article>  </div> </div> </div> </section> <aside class="col-xs-12 col-sm-4 col-md-4" role="complementary"> <div class="stickySpacer"> <div class="region region-sidebar-second"> <div id="block-multiblock-47" class="block block-multiblock block-enterprise-ads block-enterprise-ads-ads_box_right1-instance block-multiblock-47 clearfix" > <div class="block-title"><none></div> <div class="content"> <div id="ads_box_right1" class="enterprise-ads enterprise-ads-box" data-slot="box" data-pos="right1"></div> </div> </div><div id="block-multiblock-49" class="block block-multiblock block-enterprise-ads block-enterprise-ads-ads_box_mobile_mobi_box2-instance block-multiblock-49 clearfix" > <div class="block-title"><none></div> <div class="content"> <div id="ads_box_mobile_mobi_box2" class="enterprise-ads enterprise-ads-box-mobile" data-slot="box_mobile" data-pos="mobi-box2"></div> </div> </div><div id="block-multiblock-48" class="block block-multiblock block-enterprise-ads block-enterprise-ads-ads_box_right2-instance block-multiblock-48 clearfix" > <div class="block-title"><none></div> <div class="content"> <div id="ads_box_right2" class="enterprise-ads enterprise-ads-box" data-slot="box" data-pos="right2"></div> </div> </div><div id="block-multiblock-16" class="block block-multiblock block-block block-block-36-instance block-multiblock-16 clearfix" > <div class="content"> <div class="subscribe-block"> <h3>Breaking News. 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with medical education - and is the target of a new national project"> <img class="thumbnail_300x134" typeof="foaf:Image" src="https://www.healthcarefinancenews.com/sites/healthcarefinancenews.com/files/styles/thumbnail_300x134/public/black_patient_doc_vaccine_FG%20Trade_Getty%20Images.jpg?itok=hUCNSPlz" width="300" height="134" alt="Ending racism in healthcare often begins with medical education - and is the target of a new national project" /> <span class="title">Ending racism in healthcare often begins with medical education - and is the target of a new national project</span> </a> <span class="webinar-teaser">Inequities can be found in every facet of the industry, but targeting medical students and residents can help stem the tide.</span> </div> </div> </div> </div> </div> </div> </div> </aside>  <div class="clearfix"></div> </div> <div class="col-md-12 content_bottom"> <div class="region region-content-bottom row"> <div id="block-enterprise-ads-ads-leaderboard-leaderboard2" 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