There has been a dramatic increase in the number of companies applying for nonfungible tokens (NFTs), metaverse-related virtual goods and services, and cryptocurrencies in 2022.
According to data compiled by licensed trademark attorney Mike Kondoudis, the number of trademark applications filed for digital currencies, as well as their related goods and services, has reached 4,708 as of the end of October 2022 — surpassing the total number filed in 2021 (3,547).
the number of firms seeking nonfungible tokens (NFTs), metaverse-related virtual goods and services, and cryptocurrencies has risen sharply in 2022.
The number of trademark applications filed for digital currencies, as well as their related goods and services, has reached 4,708 as of the end of October 2022 — surpassing the total number filed in 2021 (3,547).
Despite the recorded decline in NFT trading volume and sales, the desire for NFTs as a technology still appears to be on the rise. According to Kondoudis’ statistics, the number of trademark applications for NFTs and their related products increased from 2,142 in 2021 to 6,855 as of October 2022.
Late last month, several companies filed new trademark applications to join the Web3 ecosystem. On October 21, Ulta cosmetics and beauty company filed a new trademark application that includes NFTs and virtual makeup services among its offerings.
The luxury watchmaker Rolex also filed an application for a trademark for NFTs, NFT-backed media, NFT marketplaces, and a cryptocurrency exchange.
