Reports said that the number of companies filing trademarks for nonfungible tokens (NFTs), metaverse-related virtual goods and services, and cryptocurrencies has grown rapidly in 2022.
It has been reported according to data compiled by licensed trademark attorney Mike Kondoudis that the number of trademark applications filed for digital currencies, as well as their related goods and services, has reached 4,708 as of the end of October 2022, surpassing the total number filed in 2021 (3,547).
However, the number of trademark applications filed for the metaverse and its related virtual goods and services also soared to 4,997 from the 1,890 filed in 2021. This seems to suggest a massive appetite for the metaverse and its related products, despite the setbacks the ecosystem has faced in becoming fully functional.
The report said that the desire for NFTs as a technology still appears to be on the rise, despite a recorded decline in NFT trading volume and sales. According to Kondoudis’ statistics, the total number of trademark applications for NFTs and their related products increased from 2,142 in 2021 to 6,855 as of October 2022.
Thus, within the past month, a number of companies have filed fresh trademark applications to join the Web3 ecosystem. On October 21, makeup and cosmetic giant Ulta filed a trademark application for plans to include NFTs and virtual makeup and salon services among its offerings.