Wanting to make an entry into the virtual world, Mastercard has filed 15 trademark applications with the US Patents and Trademarks Office for the metaverse and NFTs. The financial services giant wants to provide virtual payments in the metaverse and other virtual worlds.
Sources said that Mastercard, with trademark application #97346029, wants to provide virtual environments in which users can interact for recreational, networking, educational, shopping, and leisure or entertainment purposes. It wants to create and host an online community for digital assets, NFTs, metaverses, and virtual worlds. The American company wants to create an online marketplace for buyers and sellers of downloadable digital goods and media authenticated by NFTs.
Mike Kondoudis, a USPTO trademark attorney, tweeted a comprehensive list of the metaverse and NFT-related trademark applications which was filed by Mastercard. It included trademarks for the Mastercard brand name, the company’s Priceless tagline, and its iconic circles’ logo in the virtual space.
It should be noted that Mastercard is not the only financial multinational corporation keen to leap into the virtual world. In 2020, Visa filed a patent application to create a digital currency. Visa is developing a native digital currency on its card network. It also plans to launch a global crypto advisory service in 2022. Not to be left behind, American Express has put forward seven applications to establish its presence in the metaverse. It includes branding with virtual payment cards and concierge services in virtual environments. American Express has also filed for trademarks for downloadable computer software for the transfer of a virtual payment card to an electronic mobile wallet.