MasterCard recently made a move that most companies interested in entering the Web3 ecosystem do; read on to find out what moves this financial powerhouse has taken recently
MasterCard in the Metaverse
Few payment facilitators feature a more extensive operation than MasterCard, and this company has been at the forefront of financial innovations for a while now. Naturally, as other companies in its space, including Amex and Visa, made NFT and Metaverse-related filings in February and March, it was only a matter of time until MasterCard followed suit.
The fact that MasterCard’s Web3 related SEC filings were finalized after Visa and Amex does not mean that this company is a slow adopter of new technologies. Far from it, and when you consider that there’s a lot that goes into SEC filings, MasterCard may have launched its filing initiative in-house a while back.
Whether MasterCard is late to the party or not, the important thing is the company is finally here. According to recent reports by a trusted Intellectual Property lawyer, MasterCard has submitted a myriad of trademark applications, including a few for some of them its most recognizable brand assets.
When financial services providers enter the Web3 space, it’s always interesting to see how these companies will help revolutionize or at the very least improve their sector through Web3 technology. Over the next few moments, we’ll look into what the company registered brand assets in its Metaverse-related SEC filings.
Financial Services in the Metaverse
MasterCard recently submitted fifteen fresh trademark applications to register brand assets, including “MasterCard,” the company’s “Circles logo,” and its “Priceless” slogan. A range of financial services and products, virtual, and crypto services will be covered in patents filed with the United States Patent and Trademark Office on April 4, 2022.
Michael Kondoudis, a Metaverse trademark attorney shared the following via a tweet, “MasterCard has filed 15 trademark applications for MASTERCARD PRICELESS Its Circles Logo Indicating plans for NFT backed media Payment processing in the Metaverse Marketplaces for digital goods + NFTs E-commerce transactions in the Metaverse #NFT #Metaverse #Web3.”
There isn’t much to analyze in MasterCard’s latest filing; this financial juggernaut will do its business a disservice by not entering the Web3 ecosystem. The recent filings by this brand “are the next logical step to protect the MasterCard brand as it enters the Metaverse” via a Michael Kondoudis statement.
Who is next?
The recent filing by MasterCard is another in a long list of seasoned players in the financial services sector moving to enter the NFT and Metaverse ecosystem. Over the last few months, the number of financial services players to make such a move has only increased, and this makes us wonder who will be the next financial player to file Web3-related trademarks.
In 2020, the number of NFT trademark applications with the United States Patent and Trademark Office was three, and in 2021 that number jumped to 421, and the growth is bound to continue in 2022.