Recently, MasterCard filed 15 trademark applications related to the metaverse and NFT spaces. This is a big step following MasterCard’s launch of Start Path for crypto.
MasterCard Files Trademark Applications
A while ago, Mike Kondoduis shared a tweet stating that MasterCard had filed 15 trademark applications related to the Metaverse and NFT space. Mike Kondoduis is a USTPO licensed trademark attorney. He tweeted that MasterCard has filed 15 trademark applications for MASTERCARD, PRICELESS, and the Circles Logo. He also reported that MasterCard filed its trademark application sometime on April 4th.
The image accompanying his tweet shows 15 different serial numbers of the trademark applications. Moreover, it explains the patent applications in detail. MasterCard applied a trademark for the Circle logo, Priceless, and MASTERCARD. However, there is more to it based on Kondoduis’ tweet.
MasterCard has plans for several things, including NFT backed media. NFT backed media, in this case, refers to downloadable NFT backed music files. It also includes different forms of media like artwork, text, audio, and videos authenticated by NFTs.
According to the image, MasterCard also asked for a trademark for Ecommerce software for electronic business transactions. Moreover, the trademarks include virtual payment card transactions, gift cards, and other financial-related services leveraging NFT and Metaverse. MasterCards application also features applications to online crypto-asset communities, metaverses, virtual worlds, and NFTs.
MasterCard and Metaverse
According to Mike Kondodis, MasterCard made this move as they plan to go into the Metaverse soon. In the past, the financial payments provider showed profound interest in joining the Metaverse. In December 2021, MasterCard took the first step as they launched a startup project to help businesses use blockchain tech. This startup project called Start Path Crypto Scheme startup aimed to help companies get solutions to their problems using blockchain. It was the first step for the startup to join the crypto metaverse.
A statement by the company said that:
“The programme will provide access to value-added services and innovative offerings as the new cohort is a key part of MasterCard’s strategy in the digital assets space.”
While announcing the Start Path crypto scheme, MasterCard also mentioned that other top players in the crypto industry would support this project. Among the partnerships include Ava Labs, Kash, LVL, NiftyKey, and Envel. Ava Labs is especially interesting since its support will help startup projects launch Dapps on Avalanche.
However, the new move by MasterCard seems like making a more substantial step into the Metaverse. Mr. Mike Kondoduis said,
“MasterCard is a leading financial brand, and the value attached to the brand is significant. These filings are the next logical step to protect the MasterCard brand as it enters the Metaverse.”
Other Institutions Joining the Metaverse
In recent months, many institutions have taken decisive steps to join the Metaverse. Last year, Visa purchased its first NFT. More recently, Visa created a program that helps small businesses to develop using NFTs. Adidas, Nike and many other companies have also purchased pieces of land in the Metaverse. The institutions are adopting the Metaverse to remain competitive and expand their markets.