Trademark applications for crypto, NFTs, and metaverse surge in 2022: Report
The number of U.S. trademarks filed related to cryptocurrencies, nonfungible tokens, Web3, and the metaverse since January have reportedly passed those in 2021.
According to data compiled by intellectual property lawyer Mike Kondoudis on Tuesday, individuals and businesses filed more than 3,600 trademark applications with the United States Patent and Trademark Office for cryptocurrencies and crypto-related services as of Aug. 31, compared to 3,516 in 2021. In addition, Kondoudis reported that the number of nonfungible token, or NFT, applications had surged even higher — more than 5,800 in 2022 compared to 2,087 in 2021 — while the number of trademark filings related to the metaverse or Web3 had more than doubled: 1,866 in 2021 and 4,150 as of August 2022.
So far in 2022 over 5800 trademark apps have been filed with the USPTO for NFTs (and related goods/services)
— Mike Kondoudis (@KondoudisLaw) September 6, 2022
Data from March reportedly showed the largest number of filings in 2022 across all three application types, with 1,078 for NFTs, 604 for crypto, and 759 for the metaverse, while July and August generally had the lowest number of applications. Meta CEO Mark Zuckerberg announced in March that the company was preparing to make NFTs available on Instagram.
Cointelegraph reported on Sept. 1 that luxury brand Hermès had filed a trademark application in the U.S. for use of its name in the metaverse, NFTs, and virtual currency following the company filing a lawsuit against Metabirkins founder Mason Rothschild for allegedly to profit from the sale of NFTs bearing its Birkin name. In addition, major firms in and out of the crypto space including Meta, Formula One, Mastercard, McDonald’s, Gatorade, and the U.S. Space Force have all in 2022 made filings with the USPTO suggesting virtual products or involvement with crypto and blockchain.