The multinational credit card service company American Express has entered the NFT and metaverse world. The company filed seven trademark applications in the NFT and metaverse category with the U.S. Patent and Trademark Organization.
American Express in the NFT and Metaverse
With the increasing forays of companies into the metaverse, the virtual reality space is attracting public attention. In order to establish its leadership in the metaverse, American Express filed seven trademarks applications for the company’s name, logo, movement, membership rewards. This includes AMEX, Centurion, Shop Small, and membership rewards.
USPTO licensed trademark attorney Mike Kondoudis tweeted Tuesday regarding American Express’ NFT and metaverse trade applications.
Under the trademarks applications, the credit card service company plans to offer NFT backed multimedia, cryptocurrency services, virtual banking, and exchange services.
AMERICAN EXPRESS has filed 7 trademark applications for its logos and
▶️AMERICAN EXPRESS
▶️AMEX
▶️CENTURION
▶️SHOP SMALL
▶️MEMBERSHIP REWARDSIndicating plans to offer
✅NFT backed multimedia
✅Cryptocurrency services
✅Virtual banking + exchange services#NFTs #Metaverse #web3 pic.twitter.com/g06qSTUDYH— Mike Kondoudis (@KondoudisLaw) March 15, 2022
Big tech firms such as JPMorgan, Visa, Mastercard, PayPal have expressed interest in cryptocurrencies. Especially, JPMorgan has shown major support for the rise of cryptocurrencies, considered to be a big player in the cryptoverse.
American Express in second after JPMorgan to explore the metaverse. In February, JPMorgan announced the opening of a lounge in Decentraland. The bank also released a paper on the opportunities in the metaverse, revealing how several innovative technologies including augmented reality (AR) and virtual reality have come together to enable this concept of the metaverse.
Fintech Giants Exploring NFTs and Metaverse
Fintech firms including Visa, Mastercard, and PayPal have been exploring the NFT and metaverse either directly or indirectly. Recently, Mastercard launched the Start Path Crypto scheme for non-fungible tokens (NFTs), stablecoins, and bitcoins startups.
Visa too showed its interest in NFTs as it acquired a digital collectible called CryptoPunk and release a paper on the importance of metaverse for the future of financial institutions.
