Credit card operator Mastercard International Inc applied for several trademark applications related to NFTs and the Metaverse. The firm joins a growing list of financial majors looking to enter the rapidly-growing trend.
Mastercard’s peer American Express last month also filed for NFT and Metaverse-related trademarks, amid a broader push by Wall Street firms into the space.
Mastercard to join the Metaverse
According to trademark attorney Mike Kondoudis, Mastercard filed 15 trademark applications for intellectual property including its popular Priceless slogan and its Circles Logo, on April 4.
As per the details revealed, Mastercard is looking to build marketplaces for digital goods and NFT backed media, E-commerce software that allows users to perform electronic business transactions in the virtual world. It also added card payment transaction process and other financial services in the Metaverse.
Mike Kondoudis revealed that Mastercard has plans for events and performances in the fields of finance, cryptocurrency, and NFTS in the metaverse. As per a report, the attorney said that the financial company expects to be a key player in the digital economy.
Mastercard had recently tied up with Coinbase to allow its card users to buy NFTs on the crypto exchange’s upcoming platform.
Digital assets see increasing popularity
It is being reported that NFT related trademark applications have already exceeded the last year’s filings. Where 2021 saw only 1965 applications filed, 2022 has already seen over 2000 applications being filed.
A growing number of established institutions have ventured into the Metaverse this year. Singapore’s DBS Group- the biggest bank in Southeast Asia, recently said it looking at a virtual reality venture.
DBS’ announcement was preceded by JPMorgan and HSBC both setting up virtual spaces in Decentraland and The Sandbox, respectively.
Citi group in a report mentioned that the Metaverse market has a possibility to grow up to $13 trillion by 2030, while its users could reach the 5 billion mark.
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