Mastercard plans to launch in metaverse and non-fungible tokens (NFT)

Mastercard files 15 metaverse-related trademark applications

Mastercard, the US payment giant with 2.8 billion cards in operation, aims to get into the metaverse. As Michael Kondoudis, a specialist lawyer, reports on his Twitter account, the firm filed 15 Trademark applications related to the meta-versecryptocurrencies and non-fungible tokens (NFTs) with the US Patent and Trademark Office.

Dated April 7, 2022, the depots contain mention of the “metaverset” several times. The documents mention in particular “a virtual credit card, a virtual payment card, a virtual prepaid card, and virtual payment card transactions in the meta-version”.

Specifically, Mastercard wants to allow Internet users to do so pay for purchases in metaversen with digital payment cards. To handle these transactions, the US company involves the creation of “e-commerce software” dedicated to digital universes.

The company wants too organize finance-related events and cryptocurrencies within these digital worlds available in virtual or augmented reality. In addition, the group plans to create online communities.

Deposits also mention non-fungible tokens (NFTs) several times. For example, Mastercard describes blockchain-certified downloadable music files, NFT online stores or communities dedicated to digital assets.

This is not the first time Mastercard has demonstrated this interest in the cryptocurrency and NFT sectors. Earlier this year, the company announced the expansion of its cryptocurrency advisory service as well as non-fungible tokens. A few months earlier, Mastercard was a draw a collaboration with Bakt to expand its cryptocurrency services to its network of partners.

👉 Experience our top 4 promising meta-verses for 2022

Trademark registrations regarding the metaverse are increasing

Not surprisingly, the applications show that Mastercard wants use characteristic elements of its brand, like its name and logo, in the metaverse. This initiative is mainly aimed at protecting the Mastercard brand from competitors’ ideas.

Asked by our colleagues at ExpertClick, Michael Kondoudis assures us that these deposits show that Mastercard openly aims to create a space for yourself in the meta-verse and expect “to be a major player in this virtual economy” :

“Mastercard is a leading financial brand and the value to the brand is significant. These stocks are the next logical step in protecting the Mastercard brand when it enters the meta-verse. It’s clear that Mastercard sees the potential in the meta-verse and is preparing its brands and brand for the virtual economy that will dominate it. “.

This is what the specialist lawyer expects deposits of this kind multiply over the next 12 months as companies realize the need to protect their brands in the metaverse. In February 2022, the U.S. Patent and Trademark Office received 257 metaverse applications, compared to 13 in February 2021.

By mirroring Mastercard, American Express has already filed several trademark applications to prepare for their entry into the meta-verse. The second largest payment processor in the world aims in particular at providing banking services andopen ATMs in the digital worlds of tomorrow.

Også Also read: The banking giant HSBC joins the meta-verse The Sandbox

Sources: TwitterExpertClick

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