Amex trademark filings suggest possible entry to the metaverse

Major recognition paper institution American Express has filed trademark applications for immoderate of its logos and designs, hinting astatine expanding into the metaverse.

According to applications submitted to the U.S. Patent and Trademark Office connected March 9, American Express whitethorn beryllium readying to supply “virtual concierge services” related to recognition paper transactions “in the metaverse and different virtual worlds.” The applications included trademarks connected the usage of immoderate of its logos and branding with virtual outgo cards, conducting banking services successful the metaverse, and utilizing its cards astatine a non-fungible token, oregon NFT, marketplace.

— Mike Kondoudis (@KondoudisLaw) March 15, 2022

Many companies person hinted astatine a foray into the metaverse pursuing Facebook’s October 2021 announcement it would beryllium rebranding to Meta. The societal media elephantine said astatine the clip it planned to make a virtual situation connecting online societal experiences to the carnal world.

In February, large U.S. slope JPMorgan entered the metaverse by launching a virtual lounge successful the blockchain-based online satellite Decentraland. However different large brands including sports footwear and apparel companies Adidas and Nike person created crypto-related products and virtual shops successful the metaverse, respectively. Electronics elephantine Samsung besides launched a metaverse store successful December 2021.

Related: Amex CEO hints astatine exploring ways to let recognition paper holders to redeem points for crypto

Other recognition paper companies including Visa and Mastercard person dilatory seemed to judge users’ request for buying cryptocurrencies utilizing fiat with their cards oregon different embraced the integer plus space. Mastercard archetypal announced plans to enactment cryptocurrencies successful February 2021, portion DeFi banking steadfast Scallop joined a assembly formed by the large four recognition paper firms — American Express, Discover, Visa and Mastercard — connected March 7.

Cointelegraph reached retired to American Express, but did not person a effect astatine the clip of publication.