Mastercard Has Filed For 15 Metaverse and Other Crypto Related Trademarks
Mastercard is seemingly making a push in the crypto trademark space, with recent 1b filings related to NFTs, metaverse.
Mastercard has submitted 15 filings, including NFT backed multimedia, marketplaces for digital goods, and payment transaction processing and e-commerce software business transactions in the metaverse.
The applications are filed on a 1b basis, which means there is an intent to use them in the future. Mastercard has not announced any plans on how they plan to use them.
Unlike 1a applications, which are for “actual use,” 1b filings don’t require evidence to the government that the trademark is already being used. Instead, a company must show “bonafide intent” to use the trademark at a future date.
Mastercard and the likes are no newcomers to the crypto space. Visa has been moving into the ecosystem for some time and is hiring more crypto staff to the team. Last summer they also purchased a CryptoPunk NFT.
American Express in March this year filed for similar trademarks as Mastercard for downloadable computer software for facilitating the transfer of a virtual payment card to an electronic mobile wallet, among others.
While there is no universal definition for the term ‘metaverse’, the term appeared in the American Express application when describing the transaction authentication services, routing, authorization and settlement services, and fraud detection and control services in the metaverse and other virtual worlds.
In Mastercard’s filings, the term metaverse appears when describing financial sponsorship of cultural events, charitable events, concerts, sporting events, travel experiences, fine dining events, festivals and awards shows in the metaverse and other virtual worlds.
Earlier this year, Mastercard also signed a deal with Coinbase to support its NFT marketplace.
Last year, the payment giant launched the Start Path Crypto program to support startups that use blockchain technology to solve “real-world problems.”
Overall, Mastercard’s latest move shows a larger trend forming. February last year, there were around 13 metaverse trademark applications, while a year latest the same number was 257.
