Capital One Joins Web3 by submitting Trademarks

capital-one-joins-web3-submits-trademarks
Capital One

Capital One has finally embraced the Web3 platform. The business submitted three trademark applications on May 31 to prevent infringement of its name with the tagline “What’s in your wallet?” the boomerang logo in the metaverse.

Kondoudis said that Capital One is a prominent financial brand and that these trademark applications are a natural advancement for the corporation as it penetrates the metaverse. They also follow the trend of financial businesses registering Web3 trademarks, which gained steam in 2022.

You may find this interesting, USAF Files Trademark for Spaceverse

The three applications for trademarks cover three distinct classes: 9, 35, and 36.

Class 9 covers either NFTs or downloadable content. NFTs authenticate mobile apps for managing bank accounts, e-commerce software that enables users to perform electronic transactions in the metaverse, and audio or video recordings, including memes or advertising.

Classes 35 and 36 account for various financial services in the metaverse. The financial sponsorship of events or vacation experiences, the provision of banking services in virtual worlds, and the dissemination of financial information are examples of practical situations.

Given all of this, which is quite a lot, Capital One may be pondering a significant Web3 debut.

Also Read, MasterCards Trademarks for Metaverse

Not Just Capital One but other Financial Services Firms are also Cheerful on Web3

Although the announcement that Capital One has joined Web3 is mesmerizing, it is not the first major institution to do so. As mentioned, 2022 has seen a handful of prominent financial institutions register trademarks, launch metaverse offices, and allocate Web3 forecasts.

Similar to Capital One, 3 months ago, American Express also filed trademarks for Web3. Its seven trademark applications comprised logos such as Centurion and financial services such as Shop Small. It said at the time that it was actively monitoring Web3 developments.

In Decentraland, JP Morgan Chase founded a lounge after asserting that the metaverse might represent a $1 trillion potential. The lounge was dubbed Onyx after the company’s suite of Ethereum-based services. Like many other financial institutions, JP Morgan Chase seems to have become increasingly optimistic about Web3.

The last category is payment processors. VISA, which cultivated CryptoPunk in 2021, has just launched a campaign to educate artists about NFTs. The small cohort will attend courses and get a stipend to help them in their Web3 ambitions.

Time will narrate how Capital One utilizes its trademarks. However, the financial services sector is surely optimistic about the scope Web3 presents in 2022.


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