MasterCard Files 15 Metaverse and NFT Trademark Applications

The United States Patent and Trademark Office, or USPTO, has received 15 non-fungible token (NFT) and metaverse trademark applications from Mastercard.

As it aims to increase revenue sources and remain competitive in the virtual economy, Mastercard has joined Visa and American Express in making forays into the Metaverse.

Plans for a virtual community for interacting with digital assets, credit card processing in the Metaverse, an online marketplace for buyers and sellers of downloadable digital items, virtual reality events, and more are among the highlights of the files.

Multimedia data, such as artwork, text, audio, and video, are verified by NFTs in one trademark filing for the company's "Priceless" motto. Another application shows how the company intends to use its red and yellow "Circles" branding to process card transactions in the Metaverse and other virtual worlds.

In a separate patent, the Mastercard name will be added to Metaverse cultural events, concerts, sporting events, festivals, and award shows, as well as financial education seminars and programs.

In February, Mastercard hired 500 new employees to advise banks and merchants on the use of crypto-enabled technologies and NFTs. However, it isn't the only large financial company filing for NFT or metaverse trademarks. Visa and American Express have also filed USPTO filings pertaining to cryptocurrency.

Furthermore, these credit card firms have taken a number of steps to stay competitive in the virtual market. While Mastercard introduced the Start Path Crypto program to help blockchain and crypto firms scale their operations, Visa announced its own Creator Program to mentor entrepreneurs about NFTs and help them grow their small enterprises.

MasterCard Trademark Application: Here