Global payment giant Mastercard is venturing into the Metaverse, having submitted 15 trademark applications to the US Patent and Trademark Office on April 4. These filings cover virtual, crypto, and financial products and services, as well as the company name, logo circles, and the “Priceless” slogan.
Attorney Michael Kondoudis, specializing in trademarks, shared this information on Twitter, noting that Mastercard’s move into the Metaverse is evident from these applications. This strategic step is anticipated to position Mastercard as a dominant force in the virtual economy.
Mastercard’s diverse applications encompass NFT-supported multimedia, digital product marketplaces, Metaverse card and payment transactions, and e-commerce software tailored for business transactions
In a similar vein, American Express has also entered the Metaverse arena with seven trademark applications.
Traditional banking and payment systems are increasingly focusing on the Metaverse, as evidenced by McDonald’s and Walmart. McDonald’s aims to transition its restaurants and McCafé to the Metaverse, filing ten trademark applications for this purpose.
Meanwhile, Walmart has sought trademark registration for the sale of virtual products, submitting seven applications on December 30.
It is noteworthy that numerous brands are recognizing the potential of the Metaverse, evident in the surge of trademark applications related to NFTs, increasing from three to 1,263 in 2021 compared to 2020—a remarkable 421-fold rise, according to data from Finbold.
This trend underscores the growing significance of the Metaverse for a wide range of industries beyond the financial sector.
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