Major US financial services firm MasterCard has jumped on the cryptocurrency trading cart. The company has done this by filing new trademark rights for virtual worlds, non-fungible tokens (NFTs), and more.
Important step for MasterCard
Mastercard has filed 15 trademark applications for its brand name, its ‘Priceless’ slogan and its circles logo. All trademark applications refer to Metaverse and NFT related targets. This is an important step for the payment processing giant after the launch of Start Path for cryptocurrency. In a statement, the company said the following:
“The initiative will give participants access to value-added services and creative solutions as the new cohort is a critical part of MasterCard’s digital asset strategy.”
Planning for a virtual community
The United States Patent and Trademark Office describes plans for a virtual community to interact with digital assets, payment card processing in the Metaverse, an online marketplace for buyers and sellers of downloadable digital products, and various virtual reality experiences. events.
Another application demonstrates plans to use the company’s red and yellow “Circles” branding to process card transactions for payment for products and services in the Metaverse and other virtual worlds.
MasterCard and NFTs
The Metaverse is basically a virtual domain that allows individuals regardless of their physical location to interact with each other using virtual and augmented reality, simulating how people connect in the real world.
In February of this year, MasterCard hired another 500 people to advise banks and traders on the use of cryptocurrency-related technologies and NFTs. A month earlier, the company had already started accepting MasterCard payments for NFTs for Coinbase’s new NFT marketplace.
These NFTs can in turn serve as a sort of gateway to the Metaverse, certifying ownership of virtual assets such as (digital) art and collectibles. It is not yet known what the company’s next step will be within the crypto world.
