Mark Zuckerberg’s Meta (Facebook) is making significant strides in its quest to gain a foothold in the Metaverse. Per a recent report shared by ExpertClick, the social media giant has filed eight new trademark applications that aim to bring new products such as crypto trading into the virtual reality world.
Meta Patents Offer a Glimpse of What’s to Come
The new patent filings were presented to the US Patent and Trademark Office last week, reflecting Meta’s strategy to expand into the Metaverse.
In a recent tweet, licensed metaverse trademark lawyer Michael Kondoudis detailed the crypto products and services that the new filings introduce. He explained that Meta plans to offer various products such as cryptocurrency trading, blockchain software, digital tokens, and virtual currency wallets and exchanges.
“Meta’s latest trademark filings will surely be of interest to participants in the financial sector and beyond”, the trademark attorney concluded.
As one of the earliest entrants into the virtual reality universe, Meta has spent millions of dollars establishing its presence in the emerging 3D virtual space. The latest patent filings highlight Zuckerberg’s vision to create the virtual economy that will drive the Metaverse.
Since its rebranding late last year, Meta has filed hundreds of patent applications as it gears up to fight for the soul of the Metaverse. The US-based company has played a significant role in bringing the new tech into the spotlight and now aims to expand its reach into the virtual world with intuitive crypto products and services.
A recent report by The Financial Times highlighted how Meta is adopting a commerce-led strategy to cash in on the emerging virtual world. The study revealed that the social media heavyweight seeks to monetize its Metaverse by flooding it with hyper-targeted ads and sponsored content.
The news publication looked into numerous Meta patent applications that unveil plans to introduce virtual stores where users can buy and trade digital collectibles. Some patent applications suggested that Meta is looking to invest in cutting-edge tech to enhance the Metaverse experience.
For instance, the company has filed a patent application for an Avatar Personalization Engine that allows developers to create replicas of real people that represent them in the virtual world. There is also talk about Meta developing a Wearable Magnetic Sensor system that allows Metaverse users to interact with virtual objects and adapt to content around them.
Corporations are Jumping on the Metaverse Bandwagon
Meta is only one of the many market participants comprising leading brands, creators, celebrities, corporations, and sporting entities looking to gain a foothold in the Metaverse market.
A growing assortment of projects is looking to integrate their trademark applications into the Metaverse, opening a new frontier for e-commerce, blockchain gaming, advertising, social media, and much more.
The latest entrants into the virtual reality universe include French football club Paris Saint-Germain, which recently unveiled plans to launch an NFT-backed multimedia offering users virtual clothing and sports gear.
Last week, giant credit card American Express entered the Metaverse with several trademark filings that allow the company to roll out crypto exchange services.