There has been a significant increase in the trademark applications submitted in the US for non-fungible tokens (NFTs) in 2022.
- Despite the continued market slump, companies’ interest in crypto trademark applications surged significantly in the United States in 2022 compared to the previous year, said US Patent and Trademark Office (USPTO) Licensed Attorney, Mike Kondoudis.
- The expert claims that as of late October, 6,855 trademark applications for NFTs and related products had been submitted in the United States. Compared to the 2,142 applications filed in 2021, this number has seen a drastic increase.
- Similarly, there was a significant increase in Metaverse trademark applications. There were 4,997 trademark applications in total in this region, up from 1,890 in 2021. In addition, applications for cryptocurrencies and digital assets increased to 4,708 from 3,547 in 2021. This indicates a strong demand for the Metaverse and related items, despite the ecosystem’s challenges in becoming fully functional.
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Companies Which Have Filed Crypto-Related Trademark Applications
- Many businesses and franchises, especially in the entertainment and gaming industries, have filed trademark applications to start crypto-related projects in 2022.
- Several companies recently applied for trademarks to join the Web3 ecosystem. One of these companies is Ulta, a large beauty and cosmetics company, who registered a trademark on October 21 with its plans to provide salon services, NFTs, and virtual makeup.
- Additionally, luxury watchmaker Rolex has filed a trademark registration with plans to extend its empire through NFTs, NFT-backed media, NFT markets, and crypto exchange.
See Related: Fashion Giant Gucci To Accept Cryptocurrency Payments
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