Trademarks filed for NFTs, metaverse and cryptocurrencies soar to new levels in 2022

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The variety of firms submitting logos for nonfungible tokens (NFTs), metaverse-related digital items and providers, and cryptocurrencies has grown quickly in 2022. 

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Based on information compiled by licensed trademark legal professional Mike Kondoudis, the variety of trademark functions filed for digital currencies, in addition to their associated items and providers, has reached 4,708 as of the tip of October 2022 — surpassing the entire quantity filed in 2021 (3,547).

The variety of trademark functions filed for the metaverse and its associated digital items and providers additionally soared to 4,997 from the 1,890 filed in 2021. This appears to counsel a large urge for food for the metaverse and its associated merchandise, regardless of the setbacks the ecosystem has confronted in turning into totally purposeful.

The need for NFTs as a know-how nonetheless seems to be on the rise, regardless of a recorded decline in NFT buying and selling quantity and gross sales. Based on Kondoudis’ statistics, the entire variety of trademark functions for NFTs and their associated merchandise elevated from 2,142 in 2021 to six,855 as of October 2022.

Associated: What stays within the NFT market now that the mud has settled?

Throughout the previous month, quite a few firms have filed recent trademark functions to hitch the Web3 ecosystem. On Oct. 21, make-up and beauty large Ulta filed a trademark utility for plans to incorporate NFTs and digital make-up and salon providers amongst its choices.

Luxurious watchmaker Rolex additionally filed a trademark utility with plans to deliver NFTs, NFT-backed media, NFT marketplaces and a cryptocurrency alternate to its empire.

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