2 years ago
Mastercard joins Visa and American Express with moves into the Metaverse arsenic it seeks to summation gross streams and stay competitory successful the virtual economy.
Payments elephantine Mastercard has filed 15 nonfungible token (NFT) and metaverse trademark applications with the United States Patent and Trademark Office, oregon USPTO.
Highlights of the filings see plans for a virtual assemblage for interacting with integer assets, processing of outgo cards successful the metaverse, an online marketplace for buyers and sellers of downloadable integer goods, virtual world events and more.
One trademark filing for the company's “Priceless” slogan consists of multimedia files specified arsenic artwork, text, audio and video, that are authenticated by NFTs. Another exertion illustrates plans for its reddish and yellowish “Circles” logo successful bid to process paper transactions utilized for outgo of goods and services successful the metaverse and different virtual worlds.
An further patent intends to add the Mastercard name to taste events, concerts, sporting events, festivals, and awards shows successful the Metaverse, arsenic good arsenic to fiscal acquisition seminars and programs.
As antecedently reported by Cointelegraph, Mastercard added 500 caller hires successful February to consult banks and merchants with adopting crypto-enabled technologies and NFTs. But it is not the lone large fintech steadfast that is applying for NFT oregon metaverse trademarks. Visa and American Express person submitted their ain crypto related USPTO filings.
Back successful 2020, Visa archetypal filed a patent application to make a integer currency and is presently inactive processing a autochthonal integer currency connected its paper networks. In the lawsuit of American Express, determination are seven applications related to its branding with virtual outgo cards, concierge services successful the metaverse and utilizing its cards astatine an NFT marketplace.
Additionally, these recognition paper companies person taken respective initiatives to stay competitory wrong the virtual economy. While Mastercard created a three-month program, called Start Path Crypto, to assistance blockchain and crypto startups standard their businesses, Visa besides launched its ain Creator Program, to mentor entrepreneurs astir NFTs successful bid to turn their tiny businesses.
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Mastercard is portion of the PCI Security Standards Council, oregon PCI SSC, made up of the large planetary recognition paper firms including American Express, Discover, Visa and JCB that operates to amended outgo information information worldwide. Recently, Scallop, a regulated DeFi banking app joined the PCI SSC, with the volition of contributing DeFi-industry insights and recommending initiatives to the Council.
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