Visa Files Two Trademark Applications for NFTs and Metaverse

The list of companies filing applications for trademarks has seen an increasing trend. The latest firm to be added to the list is the payment service provider and card issuer Visa.

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Specifically, the American multinational financial services company based in San Francisco has filed for trademark applications for crypto Wallets, Non-fungible tokens (NFTs), and the Metaverse.

The filing with the United States Patent and Trademark Office (USPTO) contains two trademark applications, one of which is designated to trademarks related to software for

“Providing temporary use of non-downloadable software for users to view, access, store, monitor, manage, trade, send, receive, transmit, and exchange digital currency, virtual currency, cryptocurrency, digital and blockchain assets, and non-fungible tokens (NFT).”

Closely following the first one, the other one is related to “management of digital transactions: use as a digital currency wallet and storage services software; use as a cryptocurrency wallet, and managing and verifying cryptocurrency transactions using blockchain technology.”

The filing is suggestive that the payment giant might be exploring the metaverse soon with its name logo used in relation to “virtual environments in which users can interact for recreational, leisure or entertainment purposes.” Visa’s trademark applications were filed on Saturday 22nd October.

Crypto Trademark Application is on The Increase

More than two years ago, Visa filed a patent application to turn physical fiat currency into a digitized format. Technology advancement and innovations are at the core of the payment card issuer. One Visa spokesperson stated, “At Visa, we are continually exploring technologies that might lead to new payment innovations and greater financial inclusion.”

“each year we seek patents for hundreds of new ideas. While not all patents will result in new products or features, Visa respects intellectual property and we are actively working to protect our ecosystem, our innovations, and the Visa brand,” the spokesperson added.

Mastercard submitted a similar trademark application for Metaverse and NFTs to USPTO in April. PayPal and Western Union also submitted three trademark applications each for a wide range of digital assets. PayPal’s trademark applications are also for the payment overlapping P’s logo.

An excerpt from Paypal’s application outlined “Downloadable software for sending, receiving, accepting, buying, selling, storing, transmitting, trading and exchanging digital currency, virtual currency, cryptocurrency, stablecoins, digital and blockchain assets, digitized assets, digital tokens, crypto tokens, and utility tokens.”

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