Mastercard is making its first moves in the World of web3. They have filed for 15 trademarks application for Mastercard, Priceless, and the company’s “circles logo”. This step comes after Visa and AmEx submitted their SEC filings, indicating the plan for NFT backed media, Payment processing in the Metaverse Marketplaces for digital goods, and NFTs E-commerce transactions in the Metaverse.
Mastercard in Web3 Space, BitsCrunch Partnership, and the Metaverse
Mastercard has finally made its move into the metaverse. In near future, we shall get the gist of what the company is actually planning, however, there is no proper information out yet about what will happen.
However, the move into metaverse is not completely solo. Bitscrunch is teaming up with Mastercard for their upcoming Web3 Project.
This recent switch by Mastercard is one of many by big-time financial companies, including some of their big competitors, into the metaverse.
It’s obvious that the recent move to enter the web3 Space made by Mastercard is a tactical and a response to other competitors’ moves into the Web3 domain.
Visa has been huge in the metaverse, NFTs, and the wider web3 space. Last year around August, Visa purchased Cryptopunk. They also registered copyright filing of their own. Despite the fact that Visa observed 4.5x fewer individual transactions than the Ethereum blockchain in 2021, the company is all in on the industry as a whole. In addition, visa also announced an initiative to help artists navigate web3 in recent weeks.
Earlier at the beginning of this year, Amex’s CEO Stephen Squeri also hinted at exploring ways to allow credit cardholders to redeem points for crypto. This was in January, and we’ve not heard much since then. However recently, the company made trademark filings of its own, along with Visa and Mastercard.
According to Finbold, the number of NFT trademark applications with the United States Patent and Trademark Office was three. In 2021 that number significantly jumped to 421, and the growth is surely set to continue in 2022
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