American multinational company Mastercard has filed fifteen trademark applications for metaverse and NFTs related to financial products and services.
The payment service provider wants to have its Mastercard, brand logo, and slogan patented in a move it expects will make it the primary contributor to the virtual economy.
The patents filed cover financial products and services, including metaverse payment processing, e-commerce transactions, marketplaces, and NFT-enabled media.
US Trademark Attorney, Michael Kondoudis, notes that the move by the New York-based firm is important in protecting its brand in the grand metaverse entry.
American Express is another card payment service provider that filed similar trademarks to have its brand patented for customized metaverse financial services.
Kondoudis observes that trademark filings in the financial services sector will rise mostly in similar services as major companies compete for influence in the metaverse.
MasterCard partnered with Bakkt in 2021 to increase the adoption of cryptocurrencies by mainstream users. MasterCard currently has more than 2.8 billion active cardholders.
Mastercard has filed 15 trademark applications for— Mike Kondoudis (@KondoudisLaw) April 8, 2022
▶️Its Circles Logo
Indicating plans for
✅NFT backed media
✅Payment processing in the Metaverse
✅Marketplaces for digital goods + NFTs
✅E-commerce transactions in the Metaverse#NFT #Metaverse #Web3 pic.twitter.com/IlamOZ6OLZ