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Sunday, August 7, 2022

Mastercard Registers 15 Trademarks for Metaverse, NFT Services

In a recent report, a slew of non-fungible tokens and metaverse-related products and services were covered by 15 trademark applications filed by Mastercard with the USPTO last week.

Michael Kondoudis, a USPTO-licensed trademark attorney, said that trademark applications for Mastercard, Priceless, and Mastercard’s circular logo are being filed. Mastercard’s Priceless promotion offers cardholders discounts on daily purchases.

https://twitter.com/KondoudisLaw/status/1512397180044296197

According to Mastercard’s trademark applications, NFT-authenticated downloadable music files and marketplaces for digital commodities and NFT-backed media are among the company’s planned NFT projects.

They provide e-commerce software, payment processing services, credit card processing, and financial information in the metaverse.

97346112, 97346101, 97346097, 97346003, and 9736993 are the serial numbers for the 15 trademark applications. The other thirteen are serial numbers 97346064, 97346060, 97346043, 97346041, 97346029, 97346023, 97346019, 97346012, and 97346993.

Speaking to Insider, a Mastercard spokeswoman said the company is always seeking to deliver distinctive experiences to its clients. Specifically, Insider explained:

This filing is simply part of that effort, ensuring that the trademark protection for our brand carries through to any potential use in the metaverse uninterrupted.

Meta (formerly Facebook), McDonald’s, Burger King, Panera Bread, and Panda Express are just a few of the many large firms that have jumped on board.

Citi estimates that the metaverse could be worth $13 trillion by 2030, with five billion users. Investing in the metaverse is estimated to be an $8 trillion opportunity by Goldman Sachs, the world’s largest investment bank. HSBC and JPMorgan have recently set up shop in the virtual world.

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