The race to provide crypto services is on! Yesterday, we reported on Cash App unveiling three crypto services and today, similar news has turned up for Mastercard. Payment giants are now openly embracing crypto with open arms and seem to have gotten over their hesitance. This time, the global payment titan Mastercard has filled 15 new trademark applications all related to crypto services including fintech and metaverse technologies. Although the initial debut might take some time, here’s a good rumor you can buy and sell it while the news gets out.
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Let’s face it, we will all live and breathe in metaverse in the years to come. Even if that may not be true, Mastercard is totally not going to miss out on payment services inside the virtual world of our promising future. Hence, the 15 trademark applications all indicate Mastercard is onboard the NFT- Metaverse train.
According to top trademark lawyer Mike Kondoudis, the recent request is indicative of plans to create NFT-backed media as well as a payment processing and e-commerce transaction system in the metaverse. And since that is not done to death, a marketplace for crypto assets seems to be on the way.
The crypto services include trademarks for downloadable multimedia files containing video, text, artwork and audio verified by NFTs and e-commerce software. The software at hand will operate within the metaverse to handle electronic business transactions.
But fear not, there will be virtual credit cards and debit cards in the metaverse for you to over-spend with. Master card will process payments using these cards in metaverse.
What Happens in Metaverse…
According to Kondoudis, Mastercard has also filed trademarks for events and performances in the metaverse. Furthermore, they have applied to create online communities related to digital assets.
Interestingly, Kondoudis has also found the number of NFT trademarks to be skyrocketing as compare with last year. In fact, the trademarks so far (Q1, 2022) have surpassed the total number of last year. As of April 2022, about 1,967 applications have been submitted while the total number for 2021 has been 1,965.
Mastercard revealed plans this year to create an NFT marketplace in association with exchange platform Coinbase. The marketplace will go live sometime in the future and will support Mastercard debit and credit cards for payments.
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