April 18, 2024

One Of The Applications Pertains To Cryptocurrency Trading On The Metaverse

Ever since Meta, formerly called Facebook, rebranded its organization to suit its goal of the digital world, the company has stated clearly that it plans to extend into the virtual world. Meta has taken measures toward delivering cryptocurrency trading and virtual services on its platform.

The corporation has lodged eight recent trademark rights to certify its logo, signaling the social networking giant’s intention to diversify into a variety of cryptocurrency and virtual products. These products include tokens, cryptocurrency trading, crypto exchanges, and blockchain software.

Michael Kondoudis, a certified attorney on metaverse trademark, reported the development in a public statement on ExpertClick yesterday, 23rd of March. He also made a tweet outlining the scope of the applications.

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Kondoudis stated in response to Meta’s new trademarks, which were filed with the US Patent and Trademark Office on the 18th of March, 2022:

“These proposals highlight the company’s steps towards its metaverse goal. Meta definitely has substantial intentions for the underlying virtual economy.”

As a result of the trademark attorney’s analysis, the following conclusion was reached:

“Meta’s newest trademark registrations will undoubtedly be of relevance to financial industry stakeholders and other sectors.”

The Metaverse Approach Of Other Firms

Moreover, Meta is yet another virtual world player, joining a growing list of organizations, labels, entertainers, and even football teams who have expressed a desire to participate in the area and sought to extend it through trademark filings.

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Finbold reported just a few days before this writing that French soccer club PSG (Paris Saint-Germain) had lodged trademarks permitting it to provide multimedia in the form of NFTs. The application will also allow the club to provide electronic sports gear, crypto wallets, management of crypto transactions, electronics, and virtual wear. 

American Express has already joined the metaverse train, submitting seven additional trademark rights for its logo, slogans, and name. This enables the payment card service provider to offer exchange services, NFTs, crypto services, and digital banking. Also, the New York Stock Exchange bought virtual land on the metaverse. It lodged trademark applications that will allow it to offer crypto services in the digital world in addition to selling stocks and market shares.

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However, Billie Eilish is among the famous entrants to the virtual world, whose firm Lash Music lodged trademark files in February for the singer’s name and Blohsh logo. This trademark right will stop anyone thinking of using her name and logo in the virtual world.

Gaming companies such as Roblox and Fortnite are also making big moves on the metaverse to ensure their community is not left out of the frenzy. While the online community awaits the launch of the metaverse, platforms such as Roblox are already giving users a feel of what is to come.

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