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

Mastercard stores 15 trademark applications related to the metaverse

Mastercard, the American payment giant with 2.8 billion cards in service, aims to enter the metaverse. As reported by Michael Kondoudis, a specialist attorney, on his Twitter account, the company filed a petition 15 Brand Applications Related to the Metaversecryptocurrencies and non-fungible tokens (NFTs) with the United States Patent and Trademark Office.

Dated April 7, 2022, the repositories include the mention of the “metaverse” several times. The documents mention in particular “a virtual credit card, a virtual debit card, a virtual prepaid card and virtual payment card transactions in the metaverse”.

Specifically, Mastercard wants to allow Internet users to do this pay for purchases in the metaverse with digital payment cards. To manage these transactions, the American company plans to create “e-commerce software” dedicated to digital universes.

The company also wants organize events related to finance and cryptocurrencies within these digital worlds accessible in virtual or augmented reality. Additionally, the group plans to create online communities.

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

This isn’t the first time Mastercard has proven it interest in the cryptocurrency and NFT sector. Earlier this year, the company announced the extension of its advisory service to cryptocurrencies and non-fungible tokens. A few months earlier, Mastercard drew even a partnership with Bakt to expand its crypto-asset services to its partner network.

👉 Check out our top 4 promising metaverses for 2022

Trademark registrations concerning the metaverse are multiplying

Unsurprisingly, the documents show that Mastercard wants use distinctive elements of your brand, like the name and logo, in the metaverse. This initiative essentially aims to protect the Mastercard brand from competing ideas.

Questioned by our colleagues at ExpertClick, Michael Kondoudis assures us that these deposits demonstrate that Mastercard openly aims to create a place for yourself in the metaverse and expects “To be an important player in this virtual economy” :

“Mastercard is a leading financial brand and the value placed on the brand is significant. These repositories are the next logical step in protecting the Mastercard brand when it enters the metaverse. Clearly, Mastercard sees the potential of the metaverse and is preparing its brands and branding for the virtual economy that will dominate it. “.

The specialized lawyer expects it deposits of this kind multiply in 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 filing requests related to the metaverse, up from 13 in February 2021.

Mirroring Mastercard, American Express has already filed several trademark applications to prepare for its entry into the metaverse. The second largest payment processor in the world specifically aims to provide banking and servicesATMs open in the digital worlds of tomorrow.

👉Read Also: Banking Giant HSBC Joins Metaverse The Sandbox

Sources: TwitterExpertClick

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About the author: Florian Bayard

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