Credit card giant Mastercard files multiple trademark applications for crypto-related services

Global payments giant Mastercard files 15 new trademark applications related to crypto, fintech and metaverse technologies.

According to top trademark attorney Mike Kondoudis, the claims of the credit card titan indicate that it plans to create a non-fungible token (NFT)-backed media, an e-commerce transaction and payment processing system within the metaverse, and a marketplace for crypto assets.

Kondoudis’ information reveals that Mastercard’s applications include trademarks for downloadable media files containing artwork, text, audio, and video authenticated by NFTs and e-commerce software that would enable electronic commerce transactions to occur on the metaverse.

Additionally, the company has filed applications for virtual credit cards, debit cards, and prepaid cards, as well as the ability to process payments using these digital cards in the metaverse.

Mastercard has also registered trademarks for events and performances within the metaverse and for online communities related to digital assets.

Kondoudis also finds that the number of NFT trademarks filed so far this year has exceeded last year’s combined total, according to the information.

Lawyer’s data revealed that in 2022, 1,967 applications have been filed so far while the whole of 2021 has seen 1,965 applications. In 2020, only 23 applications were completed.

Earlier this year, the payments giant partnered with leading US-based crypto exchange, Coinbase, to create an NFT marketplace in the future that would allow Coinbase customers to pay digital collectibles using their Mastercard debit and credit cards.

Prior to this, Mastercard announced that it would expand its advisory services to the digital asset industry due to popular demand.

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