Mastercard is Aiming To Universalize NFTs


As reported by the (USPTO) United States Patent and Trademark Office, the Mastercard proposals state that the payments megacorporation intends to incorporate digital assets, enable payment cards to be operational in the metaverse, and actively develop a market for downloadable digital commodities as well as virtual reality experiences.

One of the filings from Mastercard seeks to register a trademark for the company's motto "Priceless," which appears in one of the applications. This is linked to the multimedia files, which might contain graphic design, text, music, and video, and the validity of which is verified by the NFTs, which are linked to the multimedia files.

Another application has been submitted for the registration of a logo that depicts the intersection of two red and two yellow circles intersecting in the middle. It's no secret that everyone recognizes this as the iconic Mastercard logo. The trademark will be associated with the processing of transactions, as well as the payment for products and services in whatever form they might be within virtual worlds. The inclusion of the Mastercard brand in events of cultural and sporting nature, award ceremonies in the metaverse, and seminars and programs to increase financial literacy are all suggested in one application.

Mastercard employed around 500 additional workers in February to advise banks and merchants on the integration of NFTs into their operations. A month before to that, the company announced a cooperation with cryptocurrency exchange platform Coinbase, via which Coinbase clients will be able to purchase NFTs using fiat funds on Mastercard credit cards.

Not only does Mastercard do this, but so do a number of other payment companies. As recently as March, American Exress filed seven trademark registration applications relating to NFT and WEB3, among other technologies. In addition, Visa has established a program called Visa Creator, which aims to assist artists in growing their businesses through the use of collectible tokens.

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