Mastercard makes its initial moves in the Web 3 space, after registering for different metaverse trademarks. This comes after Visa and AmEx submitted their SEC filings. These MasterCard’s filings contained “MasterCard” and the “circle logo” of the company.
Mastercard eventually moved to the metaverse, and registered for fifteen metaverse-related trademark applications to register brand assets and make sure they were the initial to use them in the metaverse and web3 space. This move has shown the clear plans of the company to take a proper step in this space. The possibilities for what Mastercard can do are limitless.
In the coming months, we will have to see what the company plans to do, nevertheless, there is still no correct information about what will occur.
This latest move by MasterCard is one of many large financial companies, containing some of their major competitors, into the metaverse.
Competitors’ movements
Visa has been very enormous in metaverse, NFT and the wider Web 3 space. From buying a Cryptopunk to registering copyright filing themselves. The company has a strong presence in the industry as a whole, despite having 4.5 times fewer individual transactions in 2021 than the ETH blockchain.
Lately, Visa released an initiative in the past few weeks to help artists navigate Web 3.
In addition, the CEO of Amex has also explored ways to permit credit card holders to redeem points for crypto. It was in January this year, and we haven’t heard much since. Lately, the company filed its trademark archive with Visa and MasterCard, definitely.
Ultimately, investment bank, JP Morgan entered Decentraland with their opening of a virtual hall.
In 2020, there were three NFT trademark applications with the U.S. Patent and Trademark Office. In 2021, this number increased to 421, and this growth is definitely continuing in 2022.
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