Payments large Mastercard has filed 15 nonfungible token (NFT) and metaverse trademark functions with the United States Patent and Trademark Office, or USPTO.
Highlights of the filings embody plans for a digital group for interacting with digital belongings, processing of cost playing cards within the metaverse, a web based market for consumers and sellers of downloadable digital items, digital actuality occasions and extra.
One trademark submitting for the corporate’s “Priceless” slogan consists of multimedia information equivalent to paintings, textual content, audio and video, which might be authenticated by NFTs. Another software illustrates plans for its crimson and yellow “Circles” brand in an effort to course of card transactions used for cost of products and companies within the metaverse and different digital worlds.
An further patent intends to add the Mastercard identify to cultural occasions, live shows, sporting occasions, festivals, and awards reveals within the Metaverse, in addition to to monetary schooling seminars and packages.
As beforehand reported by Cointelegraph, Mastercard added 500 new hires in February to seek the advice of banks and retailers with adopting crypto-enabled applied sciences and NFTs. But it isn’t the one main fintech agency that’s making use of for NFT or metaverse logos. Visa and American Express have submitted their very own crypto associated USPTO filings.
Back in 2020, Visa first filed a patent software to create a digital forex and is at the moment nonetheless growing a local digital forex on its card networks. In the case of American Express, there are seven functions associated to its branding with digital cost playing cards, concierge companies within the metaverse and utilizing its playing cards at an NFT market.
Additionally, these bank card corporations have taken a number of initiatives to stay aggressive inside the digital economic system. While Mastercard created a three-month program, referred to as Start Path Crypto, to assist blockchain and crypto startups scale their companies, Visa additionally launched its personal Creator Program, to mentor entrepreneurs about NFTs in an effort to develop their small companies.
Related: MetaMask rolls out Apple Pay integration and different iOS updates
Mastercard is a part of the PCI Security Standards Council, or PCI SSC, made up of the key international bank card corporations together with American Express, Discover, Visa and JCB that operates to enhance cost information safety worldwide. Recently, Scallop, a regulated DeFi banking app joined the PCI SSC, with the intention of contributing DeFi-industry insights and recommending initiatives to the Council.