The credit card company American Express has filed trademark applications for some of its logos and designs, hinting at its possible expansion into the metaverse.
According to applications filed Wednesday with the US Patent and Trademark Office, American Express may be preparing to offer “virtual concierge services” related to credit card transactions “in the metaverse and other virtual worlds.” The requests include trademarks regarding the use of some of its logos and trademarks with virtual payment cards, performing banking services in the metaverse, and use of its cards in a market for non-fungible tokens, or NFTs.
AMERICAN EXPRESS has filed 7 trademark applications for its logos and
â–¶ï¸ AMERICAN EXPRESS
â–¶ï¸ AMEX
â–¶ï¸ CENTURION
â–¶ï¸ SHOP SMALL
â–¶ï¸ MEMBERSHIP REWARDSIndicating plans to offer
✅NFT-backed media
✅Cryptocurrency services
✅Virtual banking + exchange services#NFTs #Metaverse #web3 pic.twitter.com/g06qSTUDYH— Mike Kondoudis (@KondoudisLaw) March 15, 2022
Many companies have hinted at a foray into the metaverse following Facebook’s October 2021 announcement that it would change its name to Meta. The social media giant said then that it planned to create a virtual environment that would connect online social experiences with the physical world.
In February, major US bank JPMorgan entered the metaverse by launching a virtual lounge in the blockchain-based Decentraland online world. However, other big brands, such as the footwear and sportswear companies Adidas and Nike, have created cryptocurrency-related products and virtual stores in the metaverse, respectively. Electronics giant Samsung also launched a native metaverse store in December 2021.
Other credit card companies, such as Visa and Mastercard, have been slowly embracing user demand to buy crypto using fiat money with their cards or have embraced the digital asset space. Mastercard first announced its plans to support crypto in February 2021, while DeFi banking firm Scallop joined a council made up of the Big Four credit card companies – American Express, Discover, Visa and Mastercard – on 7 of March.
At the time of publication of this story, an American Express spokesperson said the company was keeping abreast of developments in the metaverse, but had no plans to enter at this time.
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