Tag Archives: non-fungible token

Finance

Metaverse Trademark Applications Surging

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Over 5,800 Metaverse Trademark Applications Filed Last Year = Surging 200% Year-Over-Year

In 2022, there was a significant surge in trademark applications related to the Metaverse and non-fungible tokens (NFTs), indicating the growing importance and potential profitability of these emerging industries.

According to data collected by Blockchain Centre, there were 5,850 new Metaverse trademark applications and 7,746 NFT trademark applications registered last year.

This represents a growth rate of 205.64% and 259.61%, respectively, from the previous year. The monthly trends for trademark registrations steadily increased throughout the year, with at least 300 new applications filed every month.

Increasing interest in the Metaverse

Many big companies, including Meta, Formula One, Mastercard, McDonald’s, Gatorade, and the US Space Force, have also filed applications with the USPTO in 2022, indicating their interest in virtual products and involvement with crypto and blockchain.

The rise in trademark applications related to the Metaverse and NFTs has prompted an investigation by the US Patent and Trademark Office and US Copyright Office to examine how NFTs impact intellectual property rights.

According to the research:

“Recently, several prominent brands have faced challenges when their intellectual property or products were infringed upon by NFT marketplaces or platforms.”

Despite the ongoing ‘crypto winter’, the rise in trademark applications and growing interest in metaverse products have served as a counterbalance to concerns that the market is being negatively impacted. For the Silo, Lina Alisauskaite.

Finance

Interactive NFT collection goes live in 3D world to reflect crypto history

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CryptoTale has launched first of a kind non-fungible token (NFT) collection display which uses WebGL technology to allow a game-like 3D world experience to browse the artworks.

The collection initially launched with six custom NFTs including Rat Poison, Your Funds are SAFU, To The Moon, Bitcoin Pizza, Bitconeeeect, and Mt Gox. Each NFT is currently being auctioned and interested participants can bid from as low as 0.01 WETH.

The 3D artworks are reflecting events in cryptocurrency history like the infamous comments by billionaire investor Warren Buffet terming Bitcoin and cryptocurrencies as rat poison. The ten thousand Bitcoin pizza etc.

Overall, the auctioned NFTs are offering their potential collectors a piece of cryptocurrency history in a scarce virtual space. Since there are plans to convert game-like world’s land itself into NFTs. Essentially allowing other artists to potentially place their artwork on the same ground.

To bid for the artworks, interested parties can access the collectibles through OpenSea, the world’s largest NFT marketplace.

With the NFT market growing rapidly globally, CryptoTale plans to add more artworks in the future through collaboration with artists from different disciplines. The author behind the auctioned NFTs remains anonymous.

In recent months, NFTs have grown in popularity, with creators relying on the transformative role in ownership, commerce, and how creators connect directly with buyers, fans, and collectors.