Mastercard, the world’s largest payments company, has filed 15 new trademark applications relating to crypto, fintech, and metaverse technology.
According to prominent trademark attorney Mike Kondoudis, the credit card giant’s petitions imply that it intends to develop media backed by non-fungible tokens (NFTs), a payment processing and e-commerce transaction system inside the metaverse, and a marketplace for crypto assets.
According to Kondoudis’ knowledge, Mastercard has requested trademarks for downloadable multimedia files comprising artwork, text, music, and video that have been validated by NFTs and e-commerce software to enable electronic business transactions across the metaverse.
Additionally, the company applied for virtual credit cards, debit cards, and prepaid cards, as well as the capacity to make payments in the metaverse using these digital cards.
Mastercard has registered trademarks for metaverse events and performances, as well as for online communities focused on digital assets.
Additionally, Kondoudis notes that the number of NFT trademarks submitted so far this year has overtaken the amount for all of the previous year.
According to the lawyer’s statistics, 1,967 applications have been lodged so far in 2022, compared to 1,965 throughout 2021. Only 23 submissions were accepted for 2020.
Earlier this year, the payments giant teamed with top US-based cryptocurrency exchange platform Coinbase to develop a future NFT marketplace that would allow Coinbase customers to pay for digital collectibles using their Mastercard debit and credit cards.
Prior to that, Mastercard said that, in response to public demand, it will extend its advisory services to the digital assets business.