American Express stepping in Metaverse & NFTs: Report

Recently trademark filing by American Express hinted that Company is planning to enter in the Metaverse & other crypto-related projects.

American Express (Amex) is a multinational corporation, which is known to provide payment card services. Now this company is showing its interest in blockchain ( Metaverse, Web3, NFTs, etc) because of the growing interest in Metaverse among other companies. 

On 15 March, Michael Kondoudis, USPTO Licensed metaverse trademark attorney, notified his followers about the latest 7 trademark filing by American Express. 

Michael Tweet confirmed that the company filed for most basic things like company’ name, logo, and slogans, including AMEX, SHOP SMALL, and MEMBERSHIP REWARDS. These filings are hinting that the company is planning to enter in virtual banking services, crypto-related services, and also NFTs backed media-related services. 

Through the press release, Michael stated this move of the company and said that American Express understands the potential of Metaverse and also it will focus on establishing dominance in the virtual economy.

“American Express is a leading financial brand, and the value attached to the brand is significant. American Express sees the potential of the Metaverse and is preparing its trademarks and brand for the virtual economy that will dominate it.”

The interesting thing that Michael noted is the array of financial companies in Metaverse with American Express as the first company. 

“Perhaps the most interesting aspect of these applications is that they appear to signal the start of a new trend of Metaverse trademark filings from the financial services sector.”

Crypto & Metaverse trend 

At the beginning of Q4 of last year, Facebook rebranded its name into Meta and its CEO Mark Zuckerberg asserted that the company will focus on Augmented Reality at the next level. 

Here Metaverse is an upgraded and advanced version of virtual reality-based projects. After the decision of Facebook to jump into Metaverse, the majority of the tech companies started to shift their focus to Metaverse. 

Right now Metaverse based concepts are much similar to some virtual land projects like Decentraland, Mana. These are crypto projects and it is expected that such crypto & Blockchain projects will help to grow the Metaverse.

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