Growing Trademark Applications Show Huge Appetite to NFTs, metaverse and cryptocurrencies

The number of trademark applications filed for cryptocurrencies and their related goods and services reached 4,708 by the end of October this year, exceeding the total number filed in 2021.

This came in a Cointelegraph report that quoted data posted by licensed trademark attorney Mike Kondoudis as saying, revealing a boom in the number of companies that filed their trademarks for non-fungible tokens (NFTs), digital currencies, and the metaverse.

In 2021, the number of trademark applications filed for digital currencies was 3,547.

March recorded the highest month that witnessed trademark applications for cryptocurrencies, reaching 612.

As many as 4,997 trademark applications were filed for the metaverse till October this year, compared to 1,801 only filed in 2021. This year’s number reflects a huge interest of companies in entering the digital world, despite the obstacles that the ecosystem faces.

March was also the peak period that recorded the highest number of trademark applications for cryptocurrencies, reaching 773.

Cointelegraph also pointed to a massive appetite for the NFTs despite a remarkable decline in their trading volume and sales. The number of trademark applications filed for NFTs and their related products jumped from 2,142 in 2021 to 6,855 as of October 2022.

March recorded the highest month that witnessed trademark applications for cryptocurrencies, reaching 1,082.

Over the past month, a number of companies have filed fresh trademark applications to join the Web3 ecosystem like Visa and cosmetic giant Ulta.

Also, luxury watchmaker Rolex filed trademark applications for NFTs, cryptocurrencies, and metaverse with plans to introduce NFTs, NFT marketplaces, NFT-backed media, crypto keys, and transactions.

The trademark filed to the United States Patent and Trademark Office (USPTO) on October 31 covers online spaces for buyers and sellers of virtual products such as watches and watch parts and digital wallets.