American Express files trademark filings for its entry into the NFT and metaverse

In recent weeks and months, a growing number of companies have become interested in the metaverse. Also known as virtual reality, American Express (NYSE: AXP) became the latest to sign on. American Express has filed seven new trademark applications, including AMEX, SHOP SMALL, and MEMBERSHIP REWARDS. Covering the company name, logo, and slogans, confirming its plans to offer branded non-fungible tokens (NFTs) in the metaverse.

Moreover, through a Twitter post on Tuesday, March 15, metaverse trademark attorney Michael Kondoudis revealed that the applications had been filed with the U.S. Similarly, Patent and Trademark Office on March 9, along with plans for NFT-backed multimedia and cryptocurrency, virtual banking and exchange services.

Seven trademark applications filings by AMERICAN EXPRESS for its logos and brands.

  • AMEX

Providing plans for offering

  • NFT backed multimedia
  • Cryptocurrency services
  • Virtual banking + exchange services

The following is what Mr. Kondoudis said in a press release:
“American Express is a leading financial brand, and the value attached to the brand is significant. Clearly, American Express sees the potential of the Metaverse and is preparing its trademarks and brand for the virtual economy that will dominate it.”

After that the trademark attorney added:
“Perhaps the most interesting aspect of these applications is that they appear to signal the start of a new trend of Metaverse trademark filings from the financial services sector.”

Metaverse opted by American Express

There has been a large increase in the presence of businesses, celebrities, and firms in the metaverse in recent years, and this is only the latest example. In addition, a new trademark application was filed by the New York Stock Exchange (NYSE) on February 15 to register the term “NYSE” as a trademark for several crypto and financial products and services.

At the time, Kondoudis noted:
“This filing is the latest confirmation that the metaverse is real and businesses need to plan accordingly. Businesses no longer need to wonder if it is going to happen. It is just a matter of when The NYSE is clearing taking a proactive, forward-thinking approach to ensure that it is the leading financial exchange in the metaverse.”

In addition, a recent study conducted by Finbold indicates that the number of NFT trademark applications in the United States increased by 421 percent in 2021, considerably higher than the number in 2020.

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