Friday, April 1, 2022

Meta Files for Eight New Crypto Trademarks

The innovation corporation Meta, worth more than a half trillion dollars, is broadening its crypto collection.

Key Takeaways

  • Meta hasactually submitted for 8 crypto-related hallmarks, a D.C. hallmark attorney hasactually divulged on Twitter.
  • The hallmark applications apparently issue such matters as “crypto tokens,” “blockchain softwareapplication,” and “virtual currency exchanges,” amongst others.
  • Since October, Meta hasactually been progressively focused on crypto as opposed to its social media applications.

Meta, previously Facebook, hasactually submitted applications for 8 cryptocurrency and Metaverse-related hallmarks. The hallmarks use to a range of blockchain and cryptocurrency topics, consistingof “virtual currency exchanges” to “crypto tokens.” 

Meta’s Metaverse Moves

Following Facebook’s significant pivot and rebrand to all-things Metaverse last October, the business hasactually submitted for hallmarks hinting at prepares for crypto and blockchain applications. 

A hallmark legalrepresentative based in Washington, D.C., Michael Kondoudis, revealed in a tweet today that Meta had submitted 8 hallmark applications associated to its Logo. He composed that the applications consistedof protection on “crypto tokens,” “blockchain softwareapplication,” “virtual currency exchanges,” “financial + currency trading,” and “digital, crypto, and virtual currencies.” 

In a press release, Kondoudis composed, “These filings show the business’s technique for moving into the Metaverse. Meta plainly has considerable strategies for the virtual economy that will drive it.” 

At the celebration South by Southwest this month, Meta’s chief executive officer Mark Zuckerberg previewed the business’s NFT strategies. This was after a string of moves the business made associated to the digital properties area, start when business kicked off a broader Metaverse fad in the market last Fall by announcing it would modification its business name to Meta. It invested around $10 billion last year on associated strategies. In December, Meta made payments on WhatsApp bymeansof the Paxos Dollar stablecoin readilyavailable in a pilot to some users in the United States. On Jan. 31, it joined the Crypto Open Patent Alliance, which served as a promise not to impose its cryptocurrency-related patents, in a relocation that came just days after it sold its Diem stablecoin intellectual home for $200 million. 

In February, the business lost almost $250 billion in market capitalization in one day in the biggest single-day loss in U.S. equities history. 

Disclosure: At the time of composing, the author of this piece owned BTC, ETH, and numerous other cryptocurrencies.

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