American Express to Enter NFT & Metaverse Domain Soon

American Express to Enter NFT & Metaverse Domain Soon

American Express to Enter NFT & Metaverse Domain Soon

Hailing as one of the largest payment processing firms in the world, American Express has filed seven trademark applications for logos linked to Metaverse, NFTs, and the digital assets cluster. With this, the payment facilitator is planning to launch its expedition drive in the fast-growing space of decentralized currencies, Non-Fungible Tokens, and Metaverse’s virtual reality. The applications filed by the team include its exclusive Centurion logo and bring the firm in line with its competitor’s brands like JP Morgan, Visa, and Mastercard who have already set their foot in the industry.

The filings made to the U.S Patent and Trademark Office on March 9 hinted towards the upcoming initiatives of American Express. The firm is likely to focus its efforts on setting its sail in the vast ocean of Metaverse’s virtual world. The new-age technology opens the doors to infinite opportunities of the Internet using Augmented Reality and Virtual Reality favored tools.

The company has requested to seek trademark approvals on a variety of service offerings focused on virtual assets, Metaverse, and NFTs. The filings hint towards approvals on software for credit cards, concierge services, travel, NFT market space, a virtual world for entertainment purposes, etc. The firm is also seeking to get approval for the launch of wallet solutions for digital assets, a crypto exchange, and digital token trading services.

With constant support from investors across the globe, cryptocurrencies have become quite popular amongst firms willing to bring them to their ecosystem. Payment firms like Visa have already joined the crypto bandwagon to reap the early benefits of the growing sector. In 2021, Visa invested 49.5 ETH, equivalent to $165,000 at the time, to purchase CryptoPunk, a collection of 10,000 pixelated avatars.

The American Express team ventured into NFTs by offering the card owners a limited edition of 14 digital collectibles featuring SZA. The collection was priced at $100 for each token. The JP Morgan group unveiled Onyx Lounge, a virtual lounge area in the Metaverse portal, Decentraland, to explore the potential of Metaverse. The digital technology sector has witnessed tremendous growth in recent years and is likely to sustain its popularity in the future as well.

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