Trademark Filings Archives - Blog | Trademarkmaldives

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 6^th 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/

The multinational corporation specializing in payment card services, American Express (Amex), has recently filed seven Trademark Applications linked to virtual services and some of its iconic designs and logos, hinting at a possible entry into the metaverse. This move suggests that the major credit company is looking forward to joining its financial peers Visa, J.P. Morgan, and Mastercard in exploring the Web3 applications of its Intellectual Property (IP) assets.

As per the Trademark Filings submitted with the US Patent and Trademark Office (USPTO), the world’s second-largest payments processor, Amex, may be preparing to offer virtual concierge services concerning credit card transactions in the metaverse and other virtual worlds. The trademark applications filed include proposed trademarks for using some of Amex’s branding and logos with virtual payment cards, performing banking services in the metaverse, and utilizing its cards in an NFT (Non-Fungible Token) marketplace.

Many companies and firms across the globe have hinted at expanding into the metaverse following Facebook’s announcement last year in October concerning its rebranding to Meta. The social media giant at that time said that with Meta, it plans to create a virtual environment for connecting online social media experiences to the outside physical world.

While some well-known banks have been hesitant when it comes to cryptocurrency, many others have been engaging well with blockchain-based technologies.

Earlier this year in February, the American multinational financial and investment services bank, J.P. Morgan, entered the metaverse with the launch of a virtual lounge in Decentraland, a blockchain-based 3D virtual world. Even major sports apparel and footwear companies, including Nike and Adidas, have created virtual shops and crypto-related products, respectively, in the metaverse. Also, in December last year, the South Korean multinational electronics corporation, Samsung, launched a metaverse store.

Other major credit card companies such as Mastercard and Visa have slowly begun to accept the demand of their users for buying cryptocurrencies using fiat with their cards or else embraced the digital asset space. Mastercard first announced its plans last year in February to support cryptocurrencies, while the decentralized finance (DeFi) banking firm, Scallop, on 7^th March joined a council formed by the big four credit card firms, including Discover, American Express, Mastercard, and Visa.

An Amex spokesperson said in a recent statement delivered that the company was following developments in the metaverse but had no plans to share the same during publication. For more visit: https://www.trademarkmaldives.com