Mastercard files for 15 metaverse, NFT related trademark applications

Mastercard has filed 15 non-fungible-token and metaverse related trademark applications with the United States Patent and Trademark Office.

Mastercard is exploring ways to process payments in the metaverse. The payment giant has filed 15 non-fungible-token (NFT) and metaverse related trademark applications with the United States Patent and Trademark Office (USPTO).

According to Cointelegraph, the company is also considering to open a marketplace for NFT trading, where users will be able to sell or buy digital assets.

The trademark application filed with USPTO is described as, “Providing entertainment and educational information in the fields of cultural events, concerts, sporting events, festivals, and awards shows in the metaverse and other digital worlds.” Further, the trademark highlights the use of cryptocurrency, non-fungible tokens (NFTs) in the metaverse.

Mastercard’s logo for metaverse, as per trade application, shows two circles, one red and the other yellow, overlapping each to form orange in the centre. “There are some things money can’t buy; for everything else, there’s Mastercard,” the company’s slogan on the logo reads.

Mastercard has not officially revealed any plans of making a debut into the world of the metaverse.  Earlier in February, Mastercard hired 500 new employees to consult with banks and merchants about adopting crypto-enabled technologies and NFTs.

In December, Mastercard launched cryptocurrency-linked payments cards in the Asia-Pacific region that will enable users to convert their digital assets into fiat currency. The cards seek to remove any barrier between merchants who do not accept cryptocurrency as payment and customers who want to pay in digital assets.

“Cryptocurrencies are many things to people—an investment, a disruptive technology, or a unique financial tool. As interest and attention surges from all quarters, their real-world applications are now emerging beyond the speculative,” said Rama Sridhar, Mastercard’s executive vice president for digital and emerging partnerships and new payment flows for the Asia Pacific, in a public statement.

Meanwhile, other big name such as Visa and American Express have also filed several  applications related to payment cards and services in the metaverse and using its cards at NFT marketplaces.

Published By : The Indian Express

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