Trademarks filed for NFTs, metaverse, and crypto soar to new levels | The Financial Express

Trademarks filed for NFTs, metaverse, and crypto soar to new levels

Despite the setbacks the ecosystem has faced in becoming fully functional.

Trademarks filed for NFTs, metaverse, and crypto soar to new levels
Several companies have filed new trademark applications to join the Web3 ecosystem in the last month.

In 2022, the number of companies filing trademarks for nonfungible tokens (NFTs), metaverse-related virtual goods and services, and cryptocurrencies increased rapidly, as reported by Cointelegraph.

According to data compiled by licensed trademark attorney Mike Kondoudis, the total number of trademark applications filed for digital currencies, as well as their related goods and services, has surpassed the total number filed in 2021 as of the end of October 2022. (3,547), Cointelegraph noted.

According to Cointelegraph, the number of trademark applications filed for the metaverse and its related virtual goods and services increased from 1,890 in 2021 to 4,997 in 2022. Despite the setbacks the ecosystem has faced in becoming fully functional, this appears to indicate a massive appetite for the metaverse and its related products.

Several companies have filed new trademark applications to join the Web3 ecosystem in the last month. Ulta filed a trademark application on Oct. 21 for plans to include NFTs, virtual makeup, and salon services among its offerings.

Rolex also filed a trademark application, indicating that it intends to expand its empire with NFTs, NFT-backed media, NFT marketplaces, and cryptocurrency exchange.

(With insights from Cointelegraph)

Also Read: Deribit hackers move stolen Ether to Tornado Cash

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First published on: 08-11-2022 at 11:41 IST