Space Needle Sues Local Coffee Chain Alleging TM Infringement Over Its Logo

The Space Needle, an iconic, 605 feet tall spire at the Seattle Center (with an observation deck and a rotating restaurant), has recently sued a local coffee chain alleging Trademark Infringement. According to the iconic tower’s owner, Local Coffee Spot, with four locations in the Seattle area, has been using the Space Needle’s trademarked logo in coffee shop branding and merchandise.

Local Coffee Spot’s logo features a mug of hot coffee with rising steam that resembles the observation tower’s logo, widely used on branded merchandise.

The owner of the Space Needle, a private company, said that Local Coffee Spot’s logo copied the iconic tower’s trademarked design and consequently filed a trademark infringement lawsuit in the US District Court in Seattle. Karen Olson, the head officer in charge of the Space Needle’s operations and marketing departments, stated that the legal action in question is unusual, if not unprecedented, for the company.

The co-owner of Local Coffee Spot, Beau McKeon, shared his feeling of surprise with the filing of this lawsuit. He said that he couldn’t believe that the venture he started as a way to employ people during the COVID-19 pandemic has now drawn a trademark infringement lawsuit. He also mentioned that he and his team are feeling very victimized, being small guys, and the entire scenario is beyond bullying.

According to Olson, the Space Needle has never sued any individual or entity alleging trademark infringement in her tenure of nearly ten years. She said that since trademarks are only valid if their owners enforce them well, the Space Needle’s marketing team keeps searching for unauthorized use or misuse of the iconic building’s name, image, and likeness. She further mentioned that the private company has worked with hundreds and hundreds of businesses whose logos didn’t comply well. She firmly believes that most of the time, people don’t realize that the Space Needle’s symbol is a Registered Trademark.

Olson stated that the Space Needle is neither asking for any monetary compensation in the lawsuit filed nor anything egregious – all it wants is others to stop using its licensed trademark for which the private company shall work with them.

As per Olson’s statement, the private company had contacted Local Coffee Spot last year in March and offered to have the graphic design team at the Space Needle assist them with developing a new logo. The lawsuit filed specifies that Local Coffee Spot didn’t respond meaningfully to the initial conversation initiated by the Space Needle.

However, McKeon, on the other hand, said that he did respond, and the designers at the Space Needle never followed through with their offer of working together to develop a new logo design. Emails shared by McKeon as evidence were last dated on 15th July 2021, in which he had replied to the designers at the Space Needle, saying, “Excellent, what are the next steps?”
According to McKeon, the next time he heard from the Space Needle was last year in November when its legal team had contacted him. At that moment, he felt the attorney gave him no good options. He mentioned that the Space Needle failed to produce a designer’s name, number, or contact information on several occasions. McKeon said that Local Coffee Spot was willing to comply; however, it is not as successful as other coffee outlets, making millions of dollars a year.
Both parties involved claim that the other ignored coming to the planned meeting held this year in April to discuss a path forward. For more visit: https://www.trademarkmaldives.com

Don’t forget to follow us on social media:

Facebook – https://www.facebook.com/trademarkmaldives/

Twitter – https://twitter.com/trademarkmaldiv

Linkedin – https://www.linkedin.com/company/trademarkmaldives/

Pinterest – https://in.pinterest.com/trademarkmaldives/

Tumblr – https://trademarkmaldives.tumblr.com/

English Premier League Files 02 Trademark Applications for Crypto

One of the world’s most-watched sporting events, the English Premier League (EPL) or just the Premier League, has recently filed 02 new Trademark Applications for crypto. The applications have been filed with the US Patent and Trademark Office (USPTO), marking the widely recognized football league’s foray into the Metaverse.

Through a tweet on 6th June 2022, Michael Kondoudis, a licensed Trademark Attorney, officially announced the said trademark applications and gave a few details about them. Further info and details were later given in an official press release.

In the press release, Kondoudis said that the Premier League is watched by more than a billion people on a regular basis, which is why the value attached to the brand is substantial. He further mentioned that the Trademark Filings in question portray a logical step to safeguard the brand in the present economy, including crypto and virtual elements, and the future virtual economy in the Metaverse.

The first trademark application is for the unique logo and name featuring a lion donning a crown. The second one is for EPL’s ‘loving cup trophy’ sporting a crown and golden lions on every handle.

The trademark applications submitted with the USPTO also include licenses for digital collectibles and tokens, digital asset trading, digital art, virtual apparel, exchange services, and a marketplace for hosting such digital assets online.

The trademark applications are pretty detailed and explicitly specify the scope of every license. They consist of everything ranging from the creation of all the listed assets to their marketing and sale. Additionally, EPL has sought permission in place to use the said trademarks on virtual, augmented, and mixed reality software.

Lately, multiple brands have ventured into the Metaverse to offer various benefits to consumers, such as unique experiences, travel opportunities, activities, exclusive access to clubs, etc. Without any doubt, sports enthusiasts have always loved owning collectibles, and with their digitization, the reach is expected to go beyond and broaden further.

In the past 02 years, NFTs (Non-Fungible Tokens) have also picked up steam. According to a news release in March, sports NFTs have poised to rake in over $2 billion from only transactions this year. NFTs are gradually recovering, even though the market has not been doing very well recently due to the endless crypto winter. As per the data recorded by experts, NFT sales in Q1 2022 touched $12.13 billion, which puts it back on track to surpass the $20 billion mark recorded in 2021.

NFTs are becoming exceedingly popular among sports enthusiasts as well-known football clubs have been embracing cryptocurrencies and blockchain technology. In the press release, Kondoudis said that the number of trademark applications filed from the professional sports category for virtual services and products is expected to increase in the coming 12 months as brands and businesses are coming forward to appreciate the need for Trademark Protection in the Metaverse. For more visit: https://www.trademarkmaldives.com

Don’t forget to follow us on social media:

Facebook – https://www.facebook.com/trademarkmaldives/

Twitter – https://twitter.com/trademarkmaldiv

Linkedin – https://www.linkedin.com/company/trademarkmaldives/

Pinterest – https://in.pinterest.com/trademarkmaldives/

Tumblr – https://trademarkmaldives.tumblr.com/

Pinterest Triumphs in Photography-Related Copyright Lawsuit

A federal judge has recently granted summary judgment to Pinterest (image-sharing, social media platform) in a Copyright Lawsuit filed by a photographer who claimed that the platform infringed upon over 50 of his copyrighted works by displaying them way too close to other advertisements.

The ruling has come after an award-winning author and photographer from Princeton, New Jersey, Harold Davis, sued Pinterest in November 2019 by claiming that the company displayed 51 of his photographs without his consent on its platform.

In his lawsuit filed, Davis claimed that the issue wasn’t with Pinterest users enjoying his creative work, as he did not quarrel with the ones who pinned his photos to their personal Pinterest boards. Instead, his dispute was with Pinterest displaying his creative works too closely or in the same feed as other promotional posts. For instance, he claimed that one of his creative works, “Kiss from a Rose,” was displayed next to a promoted pin for another art print, which, according to him, is an act infringing upon his copyright.

After dismissing a series of multiple related infringement claims, Haywood Gilliam Jr., the US District Judge in the Northern District of California, has finally granted summary judgment in favor of the social media company on the sole surviving the copyright infringement claim. He found that Pinterest is well-protected from the claims put forward by the photographer under the safe harbor provisions of the Digital Millennial Copyright Act. Also, most importantly, according to Gilliam, Davis has been unable to prove how Pinterest or its content algorithms directly profited from his works by displaying them so close to the promoted pins.

In a 28-page order, Gilliam wrote that Davis’ evidence concerning Pinterest’s overall business model doesn’t establish that the social media platform obtained a financial benefit uniquely attributable to the infringement alleged in the said lawsuit. He further mentioned that the advertisements might have been displayed in proximity to Davis’ creative works; however, the algorithms that Pinterest uses for its advertisements were not connected to such works.

Additionally, Gilliam stated that even if Pinterest was extracting financial benefits from Davis’ creative works, the legal precedent doesn’t shift the lawsuit in the photographer’s favor. In many previous copyright infringement lawsuits presented before the Ninth Circuit, where different plaintiffs sued websites containing clips from their copyrighted movies, the Court paid attention to the fact that the individual users of such websites uploaded the infringing content in the first place. The Court cleared its stance by saying that the websites could incentivize users to upload such popular content; however, ultimately, the users remain responsible for uploading the content.

As per Gilliam, the same reasoning applies to the lawsuit in question. Davis’ creative works were uploaded on Pinterest by individual users and not Pinterest. Also, the fact that the social media platform uses algorithms designed to increase and enhance consumer access to content does not hold it responsible for any instance of copyright infringement.

Davis did attempt to argue by saying that Pinterest had direct control over the photos shared on its platform even if it didn’t put them there; however, Gilliam ruled that Davis had never submitted any proof concerning how Pinterest’s advertisement practices infringed upon his copyright.

As Davis’ last claim was ruled in Pinterest’s favor, the judge ordered the case closed. For more visit: https://www.trademarkmaldives.com

Don’t forget to follow us on social media:

Facebook – https://www.facebook.com/trademarkmaldives/

Twitter – https://twitter.com/trademarkmaldiv

Linkedin – https://www.linkedin.com/company/trademarkmaldives/

Pinterest – https://in.pinterest.com/trademarkmaldives/

Tumblr – https://trademarkmaldives.tumblr.com/

Innoviti Wins US Patent for Secure Communications in Payment Systems

When we talk about the safe transfer of payment information, communication security is a prime consideration, specifically from a consumer-facing product, such as a mobile app, website, or terminal, to a payment processing server for authorization. The occurrence of common security failures can result in a change of merchant identity, stealing of customer identity, and an alteration in the transaction amount. Such security failures can lead to a loss of money for the merchant and the customer, besides the inconvenience caused to the parties involved. Innoviti’s new patent promotes the progress of secure communications in payment systems.

The patent’s objective is to address some specific security challenges arising in push payment systems when the merchant identity capture is disconnected from the step of payment processing. Most widely recognized payment methods are pull-based, such as mobile payments online, card payments online or at some store, etc. The merchant, in this scenario, sends a debit request to the bank branch of the customer using a single connection-oriented protocol. The challenges arise in authenticating the genuine identity of the customer, which is validated through a second factor. On the other hand, the challenges arising in push payments are related to capturing the merchant’s identity. If there’s a possible hack of the merchant’s identity and its substitution with a fake one, the customer’s account shall get debited, and the fraudulent account shall get credited. A possible use case exists in unassisted QR payments, such as self-check-out or vending machines, where an unauthorized and random substitution of the QR can lead to this issue.

Amit Ahuja, Senior Vice President (Payments, Business Excellence, and Data Technology Head) at Innoviti, said that the company desires to become the purchase partner of the Indian citizens by helping them significantly in making better purchasing decisions. For doing the same, Amit stated that Innoviti keeps developing sophisticated technology and delivers the same through simple yet exceptionally crafted purchasing experiences, which are exceedingly arduous to put together. According to Amit, Innoviti’s patents display the sophisticated technology needed to deliver such experiences. He also mentioned that the company’s patents help safeguard its customers against claims of other parties and provide a mechanism for it to deter replication of its technology by the competitors in the market. He specified that Innoviti has more than 26 patents in its pipeline as of now and is planning to make a portfolio of 100 plus patents over the next couple of years.

Innoviti has also created a collaborative commerce platform that allows businesses to partner on payment transactions and transform them into powerful purchase tools, thereby helping customers buy better and more products. Brands, banks, and merchants come together on this platform to develop such purchase tools.

Innoviti’s uniPAYNext product processes over Rs 75,000 crore of annualized purchase volume and commands a pretty high dominant market share of 76% in the massive enterprise category, offering category-specific purchase tools to electronics, healthcare, fashion, and grocery merchants. For more visit: https://www.trademarkmaldives.com

Don’t forget to follow us on social media:

Facebook – https://www.facebook.com/trademarkmaldives/

Twitter – https://twitter.com/trademarkmaldiv

Linkedin – https://www.linkedin.com/company/trademarkmaldives/

Pinterest – https://in.pinterest.com/trademarkmaldives/

Tumblr – https://trademarkmaldives.tumblr.com/

Patent Filings for Green Hydrogen Production Technologies on the Rise

On 12th May 2022, a joint study was published by the European Patent Office (EPO) and the International Renewable Energy Agency (IRENA) concerning the dynamism and trends in the field of hydrogen that can be produced using renewable electricity via the process of electrolysis. According to the patent statistics, the innovation trends in electrolyzers for the production of hydrogen show a consistent pattern, which says that Patent Filings for green hydrogen production technologies have increased by 18% on average every year since 2005. IRENA has significantly been driving the agenda on hydrogen globally within the broader context of accelerating the worldwide energy transition in pursuit of the 1.5˚C climate objective.

While being the prime subject of many researchers across the globe, hydrogen has undoubtedly emerged as an exceedingly attractive green energy source not just because of its availability in abundance but also because it can be obtained through the electrolysis of water with the help of renewable electricity in the presence of electrocatalysts. Additionally, renewable-based hydrogen can efficiently be used as fuel in fuel cells where water is the only by-product and as feedstock in the chemical sector. It can also replace the fossil sources in synthetic fuels, for instance, when combined well with captured carbon.

As our surrounding environment is showing some signs of grave problems arising in the future, the ultimate demand for cleaner energy has never been greater. Irrespective of the steep increase in the number of Patent Applications filed, the joint study published mentions that significant innovations in electrolyzer technology are still required to reduce the costs further and make it market-ready at industrial levels. Along with various charts and commentary, the joint study shall strike a chord with the investors, companies, and technologists looking forward to understanding these rapidly expanding technology domains in a better way.

The new joint study tracks the patent filings’ evolution over the past 15 years and sheds light on various trends, including:

  • In 2016, the number of patent families concerning water electrolysis technologies excelled the number of patent filings related to producing hydrogen from fossil sources, for instance, liquid or solid coal and oil-based hydrogen sources. Two years later, in 2018, inventions for electrocatalysts based on cheaper minerals exceeded the number of inventions based on way more traditional but expensive electrocatalysts, i.e., the ones using platinum, silver, gold, or other noble metals, thereby confirming the drive for cheaper alternatives.

The previously mentioned trend is demonstrated and pronounced by an increase in the national patent filings of China. Photo electrolysis is a robust, newly emerging technology capable of integrating hydrogen and electricity production in one step, consequently lowering the production costs. The joint study reports an above-average number of international patent families in this field – 50% of those are filed by universities. For more visit: https://www.trademarkmaldives.com

Don’t forget to follow us on social media:

Facebook – https://www.facebook.com/trademarkmaldives/

Twitter – https://twitter.com/trademarkmaldiv

Linkedin – https://www.linkedin.com/company/trademarkmaldives/

Pinterest – https://in.pinterest.com/trademarkmaldives/

Tumblr – https://trademarkmaldives.tumblr.com/

Apple Wins Patent for In-Display Touch ID Built Using Optical Fibers

The American multinational technology company specializing in online services, consumer electronics, and software, Apple Inc., has recently won a patent for an in-display touch ID system for its next-generation iPhones. To be specific, the US Patent and Trademark Office (USPTO) has granted the Cupertino headquartered tech giant a patent linked with the use of optical fibers behind the display that could capture biometric data quickly and more efficiently. The same implies that Apple could finally get in-display fingerprint sensors on its devices.

As per various reports published around the same trending topic, the technology has the ability to capture two-dimensional (2D) or three-dimensional (3D) images of a user or object near the device. The 2D or 3D images could include biometric data in some applications.

According to the Patent Application filed by the tech giant, the technology in question utilizes optical fibers for emitting or receiving electromagnetic radiations through the device’s display.

The next-generation iPhones may also include multiple input devices, such as a virtual button or many other sensors integrated with a display stack positioned under the display.

Kindly note that the technologies specified in the patent applications filed by Apple don’t, at all times, make it to the final build. Therefore, it will be wise enough to admit that there are bleak chances for the Touch ID system to make a comeback.

If we look at the hints given by renowned analysts like Ming-Chi Kuo, we can say that the probability of Apple coming up with an under-display Touch ID feature is almost next to impossible, at least in the coming two years. In September 2021, Kuo had predicted that around late 2023, an iPhone with Touch ID functionality could be expected; however, his recent tweets mention otherwise.

After analyzing the latest surveys, Kuo said in his recent tweet that the new iPhones in 2023 and 2024 may not include the under-display Touch ID functionality. He also mentioned that the Face ID technology with a mask on in an iPhone is already a brilliant biometric solution. For more visit: https://www.trademarkmaldives.com

Don’t forget to follow us on social media:

Facebook – https://www.facebook.com/trademarkmaldives/

Twitter – https://twitter.com/trademarkmaldiv

Linkedin – https://www.linkedin.com/company/trademarkmaldives/

Pinterest – https://in.pinterest.com/trademarkmaldives/

Tumblr – https://trademarkmaldives.tumblr.com/

India Stays Among Challenging Economies Concerning IP Protection, Says USTR

India remains among the most challenging economies worldwide concerning the protection, management, and enforcement of Intellectual Property (IP). The Office of the US Trade Representative (USTR) said the same in a recent report as it decided to retain the nation on the Priority Watch List 2022.

The USTR designated seven nations, including Argentina, Chile, China, India, Indonesia, Russia, and Venezuela, on the Priority Watch List under its 2022 Special 301 Report.

The USTR mentioned that Ukraine’s review has been suspended, keeping in mind the unprovoked and premeditated invasion of the nation.

In one of the sections of the report dedicated to India, the USTR said that the nation has remained at odds with its progress on the protection, management, and enforcement of IP. It further stated that although India made significant progress in some areas over the past year to promote IP protection, management, and enforcement, it couldn’t resolve the recent and long-standing challenges and created new matters of concern for the rights holders.

The report even specified that India’s accession to the World Intellectual Property Organization (WIPO) Copyright Treaty and WIPO Performances and Phonograms Treaty, together known as the WIPO Internet Treaties, in 2018 and the Nice Agreement in 2019 were undoubtedly positive steps towards the ultimate path of IP Protection.

On the contrary, the USTR mentioned that the potential threats of narrow patentability criteria, lack of presumption of patent validity, and patent revocations under the Indian Patents Act affect business companies and brands across different industries.

The USTR stated that in spite of India’s repeated justifications for limiting the IP protection as a way to encourage and promote access to technologies, the nation imposes pretty high customs duties on IP-intensive products, including pharmaceuticals, medical devices, solar energy equipment, information & communication technology products, and capital goods.

The USTR also said that it is continuing to monitor closely the restriction on the patent-eligible subject matter under Section 3(d) of the Indian Patents Act and its impact specifically on the pharmaceutical industry.

The report even mentioned that pharmaceutical stakeholders also express their concerns and issues time and again as to whether India has an efficient mechanism for the early resolution of potential patent disputes and lawsuits, specifically the shortcomings in notifying interested parties about marketing approvals. For more visit: https://www.trademarkmaldives.com

Don’t forget to follow us on social media:

Facebook – https://www.facebook.com/trademarkmaldives/

Twitter – https://twitter.com/trademarkmaldiv

Linkedin – https://www.linkedin.com/company/trademarkmaldives/

Pinterest – https://in.pinterest.com/trademarkmaldives/

Tumblr – https://trademarkmaldives.tumblr.com/

Three Tamil Nadu-based Products Apply for Geographical Indication (GI) Tag

A Geographical Indication (GI) is a label or tag given or applied to products having a specific geographical origin, along with certain characteristics related to that specific origin. The GI tag’s owner holds exclusive rights over such a product.

Three Tamil Nadu-based products, including Thooyamalli rice, Virudhunagar sambha vathal (Chilly), and Puliyankudi acid lime, have recently filed applications for GI tags in Chennai. On behalf of the applicants, details on all the three previously mentioned products were gathered and prepared by Intellectual Property Rights (IPRs) attorney P. Sanjai Gandhi.

The GI Application for Puliyankudi acid lime has been made by the Tamil Nadu State Agricultural Marketing Board and Melapuliyankudi Farmers’ Association. The facilitator, in this case, is the NABARD Madurai Agri-Business Incubation Forum.

Puliyankudi is the name of a village in Tenkasi. It is widely recognized for its acid lime cultivation. The local people here refer to this place as the lemon city of Tamil Nadu. Kadayam lemon found in this place is famous for two aspects, taste and juiciness. Acid lime trees are small in size and bushy with pointed and sharp spines. The leaves are also small, along with narrowly winged petioles. Both the flowers and fruits are small. The lemons grown in this region weigh about 50 g each, and every tree bears around 950 fruits in totality. They are grown in Puliyankudi, Kadayam, Sankarankovil, Kuruvikulam, Kadayanallur, and other adjoining areas.

The GI application for Virudhunagar sambha vathal has been made by the Virudhunagar Chillies’ Merchants Association and the Tamil Nadu State Agricultural Marketing Board. Chillies are primarily grown in the districts of Virudhunagar, Sivagangai, Thoothukudi, and Ramanathapuram of Tamil Nadu, and the chief markets for them are also located here.  The long, lean shape of chillies grown in Vilathikulam, Virudhunagar, and Sattur regions is known as Virudhunagar sambha chilli. These chillies are vibrant red in color, 6-6.5 cm in length, with bulged shoulders and sharp tips. As these chillies have good capsaicin content, they are preferred in the value addition industry, specifically for oleoresin extraction.

The GI application for Thooyamalli rice has been made by the Tamil Nadu State Agricultural Marketing Board and facilitated by NABARD Madurai Agri-Business Incubation Forum. Thooyamalli rice, which means pure jasmine, is cultivated for 135-140 days during the sambha season. The seeds are sown directly, and for growing this variety, a transplanting system is used. It grows between 115 and 125 cm in height and yields around 1,125 kg per acre, with a straw yield of 35 bundles, i.e., 1,050 kg per acre. Thooyamalli rice is protein-rich and has high-fat content. In terms of mineral content, it is high in zinc, magnesium, and iron.

The head office of GI in Chennai has also received applications in the past week from several products across the nation, such as West Bengal’s Begampur cotton handloom saree and Kolkatti jewelry. Furthermore, GI applications for Goa Hilario Mango (Manghilar or Mangilar/Mangilal) and Taleigao Vayingim (brinjal) from Goa have also been filed recently. For more visit: https://www.trademarkmaldives.com

Don’t forget to follow us on social media:

Facebook – https://www.facebook.com/trademarkmaldives/

Twitter – https://twitter.com/trademarkmaldiv

Linkedin – https://www.linkedin.com/company/trademarkmaldives/

Pinterest – https://in.pinterest.com/trademarkmaldives/

Tumblr – https://trademarkmaldives.tumblr.com/

Delhi HC Declines Snapdeal’s Plea in Trademark Infringement Matter

The Delhi High Court (HC) has recently declined the plea filed by Snapdeal (an Indian e-commerce company based out of New Delhi) seeking temporary relief against Domain Name Registrars (DNRs) in a Trademark Infringement issue.

Snapdeal was looking forward to getting the suspension done of all registrations granted by the registrars alleging that they infringed upon its ‘Snapdeal’ trademark.

It argued by saying that third parties having no connection with it have been registering domain names comprising the word or thread ‘Snapdeal,’ engaging in unauthorized activities like offering lucky draws through websites operating under the domain names in question and acting as customer service centers for Snapdeal’s offerings without obtaining its permission.

The Delhi HC, in this matter, said that it couldn’t stop or restrict such DNRs from issuing Trademark Registration for the ‘Snapdeal’ mark since it is, in general, not legitimate for the Court to hold in well advance that every alternative domain name comprising the term ‘Snapdeal’ would necessarily be infringing in nature.

A DNR manages the reservations of domain names while also assigning the IP addresses to the domain names in question. However, the Delhi HC stated that DNRs are also responsible for ensuring that the alternative domain names do not infringe upon any already existing Registered Trademarks. Furthermore, it mentioned that in the scenario where DNRs offer brokerage services for deceptively identical names, they would be held liable for trademark infringement. The Court even asked the DNRs to suspend any algorithm that works in the manner to create a possibility of making infringing alternative domain names available. It concluded by mentioning that DNRs cannot claim safe harbor protection in such matters.

In a recent statement delivered, a Snapdeal spokesperson said the company is pleased to see how the Delhi HC held that it is the responsibility of the DNRs to ensure that the alternative domain names offered by them do not infringe upon any already existing registered trademarks.

In its petition filed before the Delhi HC, Snapdeal had sought an injunction against the DNRs from offering any domain name containing its ‘Snapdeal’ trademark. While declining an interim relief, a single judge bench of Justice C. Hari Shankar said the Court couldn’t pass an order operating in the future, i.e., restricting the DNRs from offering the registration of any domain name, including the thread or word ‘Snapdeal,’ as the same would be attributing the Court clairvoyance that it does not possess. The Court further mentioned that Snapdeal would, therefore, be required to file a petition every time there is a domain name that it finds to be infringing. In its judgment, the Court agreed that it would undoubtedly be a long and cumbersome exercise, which can’t be helped as there is no shortcut to justice. For more visit: https://www.trademarkmaldives.com

Don’t forget to follow us on social media:

Facebook – https://www.facebook.com/trademarkmaldives/

Twitter – https://twitter.com/trademarkmaldiv

Linkedin – https://www.linkedin.com/company/trademarkmaldives/

Pinterest – https://in.pinterest.com/trademarkmaldives/

Tumblr – https://trademarkmaldives.tumblr.com/

Mastercard Files 15 Trademark Applications Related to Metaverse and NFTs

The American multinational financial services corporation based out of New York, Mastercard Inc., is now discovering new ways of processing payments in the Metaverse. The leading global payments and technology company has recently filed 15 Trademark Applications related to the Metaverse and Non-Fungible Tokens (NFTs) with the US Patent and Trademark Office (USPTO).

The company, as per various reports, has plans to open a marketplace for NFT trading, using which the users would be able to sell or purchase digital assets.

The trademark applications filed by Mastercard with the USPTO describe the proposed trademarks as providing educational and entertainment info in the spheres of concerts, cultural events, award shows, festivals, and sporting events in the Metaverse and other digital worlds. Additionally, the trademark applications filed highlight the use of NFTs and cryptocurrency in the Metaverse.

According to the trademark applications filed, Mastercard’s logo for the Metaverse shows two circles, one in red color and the other in yellow, overlapping one another to create an orange shade at the center. The payments’ giant slogan on the logo says, “There are some things money can’t buy; for everything else, there’s Mastercard.”

Mastercard has not yet officially disclosed its plans of stepping into the Metaverse world. This year in February, the corporation hired 500 new employees for consulting with banks and merchants about taking on NFTs and crypto-enabled technologies.

Last year in December, Mastercard officially came up with the cryptocurrency-linked payment cards in the Asia-Pacific region, enabling users to convert their digital assets into fiat currency. The cards look forward to removing any obstacle between merchants who are not willing to accept cryptocurrency as payment and customers who are not willing to pay in digital assets.

The Executive Vice President for Digital and Emerging Partnerships and New Payment Flows at Mastercard for the Asia Pacific region, Rama Sridhar, said in a public statement delivered that cryptocurrencies are many things to people, including a unique financial tool, a disruptive technology, or an investment. She further mentioned that as attention and interest levels surge from all quarters, their applications in the real world are now emerging beyond the speculative.

It is interesting to note in this scenario that other widely recognized companies like American Express (Amex) and Visa have also filed multiple trademark applications related to payment cards and services in the Metaverse and NFT marketplaces. For more visit: https://www.trademarkmaldives.com

Don’t forget to follow us on social media:

Facebook – https://www.facebook.com/trademarkmaldives/

Twitter – https://twitter.com/trademarkmaldiv

Linkedin – https://www.linkedin.com/company/trademarkmaldives/

Pinterest – https://in.pinterest.com/trademarkmaldives/

Tumblr – https://trademarkmaldives.tumblr.com/