Visa Files new Cryptocurrency Trademarks with Metaverse Plans

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• Payments giant Visa (NYSE:V) filed two Crypto trademarks for its character Mark.
• The company could also be preparing to move into the metaverse.
• Several major brands have started filing NFT, and Metaverse trademarks.

Recent trademark applications by payments giant Visa suggest it is preparing to get more involved in the cryptocurrency space. The Visa International Service Association apparently submitted two applications for its character mark to the United States Patent and Trademark Office (USPTO) on October 22nd.

According to information provided by accredited trademark attorney Michael Kondoudis, the payments company wants to prevent the use of its trademark character in applications “to view, access, store, monitor, manage, trade, send, receive, transmit, and exchange” digital currencies and non-fungible tokens (NFTs).

Furthermore, the filings also hint that the company could be eyeing a move into the metaverse, as the filing also seeks protection for the use of its brand in “virtual worlds in which users can engage for recreational, leisure or entertainment purposes.”

In recent years, the credit card firm has taken a number of small steps into the cryptocurrency market. Back in March, the company said it would begin a pilot program testing the usage of USD Coin (USDC) that would allow its partners to settle transactions made in fiat.

The hype around cryptocurrencies, NFTs, and Metaverse seems to be drawing a number of traditional giants that don’t want to lose out on this emerging sector. Just days before Visa’s filing, on October 18, payments giant Paypal made two trademark applications for its logo, according to Kondoudis.

First, “downloadable software” for trading and storing cryptocurrency. The second involves cryptocurrency payment processing services.

Meanwhile, many food companies have made NFT and metaverse moves as well. On October 12th, Kraft Foods Group (NASDAQ:KHC) trademarked the Weinermobile, a renowned food truck in a hot dog style. The filing outlined the company’s intent to enter the NFT and digital token markets as well as the virtual goods, virtual food and drink, and restaurant industries.

Furthermore, on October 6, In-N-Out Burger applied to register a trademark that would allow them to sell “virtual goods”, like “virtual food,” “virtual beverages,” and “virtual merchandise” in the metaverse.

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